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looks like we are stuck here, wait for a clear breakout of either trendline. dont pull the trigger too early here imo. could get stuck holding a bag :S goodluck
Lazr looking nice for eithier way its going to breakout my guess would be to the downside as i am seeing price get extremely weaker if we don't get a hard bounce tomorrow!
Alert set at $35.00 for potential entry on a break above Point of Control (red-line) 0.5 Fibonacci level. Targets as per Fibonacci retracement levels. Strong volume today which may ignite a rally.
LAZR failed to breakout from the triangle and continued on sideways move within a clear channel after that pattern was completed. LAZR is now on the channel support as well as the support of the 21-ema and 14-ema. Seems to be a good place to enter a position because if the price breaks below the support you can exit the trade with minimal harm. Other indicators...
$LAZR (Luminar Technologies) is on the verge of breaking out of the bullish pennant. Playing this breakout is relatively easy since you can set your stop limits close to your entry. LAZR has been holding the 21 EMA for a month, which is a good sign. RSI and StochRSI are curling up. There is hidden bullish divergence here as well. Entry: close above the...
MID-TERM: Breakout of triangle, hidden bullish divergence developing on the daily. Risk management seems easy here. (Not financial advice)
The concept of tightening price action, lower highs and higher lows, along with volume declining, will often lead to a breakout that follows in the direction of the prior trend. William Jiler in 1962 referred to this as a coil. Mark Minervini describes similar price action as a volatility contraction pattern (VCP). It is also known as a symmetrical triangle.
Breakdown of support so watch for more red waterfalls to continue. Falling knife bag holders of luminar are moving to cryptos . Failed breakouts and loss of buyers confidence. I smell crash and dumpster fire.
Lazr looking like a nice triangle, making a possible 1,2 a retest of the trendline all indictors show upside potential if not i would wait to see if it can make a longer correction for more bullish upside,, overall volume increasing also bullish as well!
LAZR outperformed the sector and market on Tuesday on the back of some speculation linking to TSLA, lets see can that carry through today. The 20ma held strong yesterday as support. Rising trendline well respected. Volume also increased impressively . Sloping downtrend is first major obstacle. Fibonacci Golden pocket will then be second target.
Watching for a bounce here to retest ATH, cross on the stochastic good indication of reversal just need volume to pick up for confirmation!
Potential long entry above $ 34.25 Target Price $ 37.25
optional entry LAZR - see chart for trigger + targets, as w anything wait for bullish pa at trigger, ie pin bar, engulfing candle, inside bar, always look for volume, keep in mind they will used gap downs to or just below patterns notoriously..i use 4-5 point stops on abcd's back over 10-20 day ma's she will rip
$LAZR trading above the yellow 50 S.M.A. Formed a beautiful bullish pattern getting ready for a breakout any day now. Loving the setup on this one. Short Term Target Area: 46 Short Term Target Area: 55
Possible move:95% Reward/Risk: 5 (R/R>3 is Ideal) Time frame: 1-2 wks This is just my technical view, not a fundamental comment..! I can make you confused you by a crowded messy chart, but I would rather simple effective presentations..!