LAZR & MULN Technical Analysis Update! | Candlestick Ninja 4/16/2024

In today's triple-feature update, we're focusing on both LAZR and MULN as they hit crucial levels, setting the stage for potential moves.

LAZR: Luminar Technologies is currently hovering just below our bullish wedge, nestled within a larger wedge formation. With each passing hour, it inches closer to a bullish breakout. Stay tuned for exciting developments!

MULN: Meanwhile, MULN has perfectly aligned with the base of our wedge support, signaling a potential bounce from oversold conditions. Yesterday's 15-20% drop provided a much-needed opportunity, and I've taken advantage by adding positions at current prices.

Both LAZR and MULN's trajectories hinge on the VIX's behavior, which appears poised for a drop below 18 in the coming days. Keep a close eye on the VIX as it forms a daily bearish piercing pattern, aiming to breach previous resistance levels. We need today's candle to close with at least 50% of the prior candle "eaten" by its wick.

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