LAZR Luminar Technologies Update: Bullish Momentum Building? | 3/18/2024

Join us for an update on Luminar Technologies (LAZR) as we analyze the recent price action. After being stopped out at $1.79, we've reentered trades at $1.72-$1.73, averaging a new cost around $1.73. Short-term indicators are signaling bullish momentum, with intrahour timeframes challenging key VWAP levels and bands. On the daily chart, we observe the completion of a diagonal zigzag or falling wedge pattern, accompanied by a strong hook up in stochastic RSI from oversold levels. With these signals in mind, we anticipate a potential test of $1.92, possibly today, and a breakout above $1.92 in the coming days. Stay tuned for further insights into LAZR's evolving market dynamics!

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