🚀 Luminar (LAZR) Update: Bullish Continuation Patterns Amid VIX Rally 5/20/2024

In this comprehensive update, we analyze Luminar (LAZR) post bull diamond breakout and its positioning ahead of a potential VIX rally. Currently, LAZR is caught in a flag-style channel or flag continuation pattern. If the VIX continues to rise, I expect LAZR to remain suppressed. However, I am not bearish above $1.68 and maintain a moderately bullish outlook over the short run, with a fully bullish perspective for the longer term.

Key Stats:
Days to Cover on Short Interest: Approximately 8%, which is lower than before.
Short Interest: 88,192,816 shares (source: NASDAQ).
Short Interest Ratio: 7.23 Days to Cover.
Short Interest % Float: 26.37% (source: NASDAQ, Capital IQ).
Off-Exchange Short Volume: 2,054,186 shares (source: FINRA, including Dark Pool volume).
Off-Exchange Short Volume Ratio: 58.70% (source: FINRA, including Dark Pool volume).

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

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