March 18, 2024

Join us for a post-market update on Luminar Technologies (LAZR) as we analyze the recent price action. Today's close reveals an indifference candle, signaling a potential completion of the shorter-term falling wedge pattern. We observe support adherence, coupled with a bullish formation in daily stochastic RSI, indicating a forthcoming bullish momentum shift. Anticipate a significant squeeze on this stock in the near future. As part of our strategy, stop losses are now set at $1.48, with 75% of the position and sell limits strategically placed at $5.74, $7.98, and $9.95. The remaining 25% of the position is open-ended for longer-term potential gains, creating a hybrid trade with both swing trade and long-term investment components. Stay tuned for updates as we navigate this promising opportunity in LAZR!

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