Luminar Technology is facing intense pressure with short squeeze indicators like Short Ratio, Short vs. Float %, and Off Exchange Shorting % reaching 15 Days, 27%, and 53% respectively. It's primed for action!
After breaking the initial barrier at $1.60-$1.70, we retraced to the previous support zone of $1.40-$1.44. Holding at $1.38 will signal the next move...
Overview:
Luminar Technologies (LAZR) appears to be forming a possible bullish diamond pattern, which could indicate a potential bullish reversal. Combining Fibonacci retracements and extensions with Elliott Wave Principle (EWP) counts, we'll explore potential price levels and patterns for today's intraday trading session.
Chart Analysis:
Bullish Diamond...
If we don't break $1.32-$1.40 we run the risk of a fail to the $1.20 zone of the bottom of the channel! We need a VIX of sub $17 for me to be confident we will break out on Monday/Tuesday!
Good morning, traders! Let's take a look at our pre-market action for Luminar Technologies Inc (LAZR). As of the latest update, LAZR is trading at 1.5 in pre-market, and the price is holding steady at a crucial level.
Chart Analysis:
As indicated in the chart below, we are currently at a significant location. If we zoom in, you'll notice that LAZR has been...
candle was enough to get a profit taking dip today, but is NOT a bearish piercing candle as it does not encroach 50% into the body and it has a bullish bottom wick.
The retracement that happened today to .618 from our 1.20 lows was exactly .618
Many may call today bad, but no way was it, we did the neccessary 4% drop we needed today to hit said levels....
LAZR seems to be plotting a distorted triangle and we are close to .618 and have technically tested it already, we may hit 1.34 again and then rise.
P.S. Squeeze figures are still in range, 27%, 15 days to cover +/- 1-2 days which is immaterial at double digits, and 53%+ off exchange dark pool shorting.
Info and Educational Purposes Only.
CandlestickNinjaTV on YT
GLTA!
Assuming we don't break $1.44 today and hold, we may see $1.38 .382 retracement from the recent run-up (today/tomorrow) and then $1.44 break by tomorrow or Thursday. (White Line)
I think we break it today though. If we do then my alternative retrace will be from around $1.60 (Green Line)
Always for Educational and Informational Purposes Only!
LAZR Possible wedge breakout trajectory... We are stalled with a basing VIX that should still continue downward at the end of a wedge we made our way back in post overshoot below 1.40 due to BoA manipulation...
yup they are wrong and that was their market makers and them working together so they could screw us but not me! long 200+ may 3 to 17th calls and more stock.
When the vix BREAKS $15 and we break $1.50 we fly on LAZR Luminar Tech.
High lending rate on options, margin accounts, 32 days to cover and 26% short vs interest float on LAZR and 45-50% off exchange shorting.
Lets go! CandleStickNinjaTV
Bullish Diamond, once the VIX Breaks $17 we rip!
LAZR, OUST, MULN, ANY STOCKS you look at are being bogged down by a $17+ VIX, don't judge the stock, judge the systemic effect of the Fear Index on the market.
Bullishness on my end? Unchanged. Status, 100% very bullish all hands on deck, powder deployed, Let's Go!
LAZR Focused on a VIX $18 Support Break for this to happen...
Other than all of the other signs out there, the VIX as I mentioned yesterday bogging us down is what's happening, but I remain confident due to an insane "Short Ratio: Days to Cover" of 28+, that's 2 to 3x the days to cover many potent short squeezes present, i.e. AMC, etc.
Also the Short Interest...
Not the prettiest, with bottom angles that reflect more horizontal support than a diamond, but all indications tell me that this is an overshoot and the odd looking diamond is a base out or turning pattern, we should hop up into the $1.40+ range within a day or two.
Info and Edu purposes only, like all other analyses!
LAZR Should be breaking out, but this may happen first... I don't think we break below $1.25 but I always assign probabilities to events, we are in a probabilistic game here, this is never an exact level game, if you think it is you have already lost!
