VIX Update (and Luminar Ticker LAZR) - May 3rd, 2024: Bouncing Between Support and Resistance 📈

The VIX has fallen as expected and still has further to go before we see a bounce. We're anticipating a drop to around 12.50 before any significant upward movement.

VIX Analysis:
We're currently bouncing between our key support level at 12.50 and our falling trend line resistance in the range of 19-20. This pattern is likely to continue until the VIX plots below 12, which is why I'm bullish on the VIX via UVIX and UVXY.

LAZR Update:
LAZR has broken through the $1.55 mark and is rallying towards $1.60. I have it pegged today at $1.70 and beyond. The squeeze we've been waiting for is on the horizon - let's go!

📈 #VIX, #VolatilityIndex, #LAZR, #LuminarTechnologies, #ShortSqueeze, #StockRally, #Bullish, #TradingStrategies, #TA, #TechnicalAnalysis

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Disclaimer: For informational purposes only. Not financial advice. Trade at your own risk.