The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Support levels : $5.00 and $3.88 Disclaimer The technical analysis suggests that, if prices breakout $7.00 then the short term trend may reverse in the favor of bulls and more upwards movement will open up for Luminar investors. LAZR stock price had witnessed a relief rally and prices shot up 60% approx form the lows but unfortunately the 50 day EMA is acting as a hurdle for bulls. The MACD had generated bullish crossover but the curve is sloping sideways indicating prices are likely to enter into consolidation whereas the RSI at 53 denotes the balance between bullish and bearish positions. However, if sell off triggers form supply zone then $4.00 and $5.00 will act as support levels for bulls. LAZR stock price is surely inside the bear grip but prices seem to be in the recovery mode and the probability of more downside is less for the coming months. We can see more upward movement towards $9.00 in the coming months. However, $7.00 will act as an immediate hurdle for bulls and if bulls succeeded to hold the prices above $7.00 hurdle level. Recently prices attempted to break out of the 50 day EMA but formed a bearish rejection candle indicating bears are still active at the higher levels. Luminar stock prices struggled to find a short term base but surprisingly in January, Market sentiment improved and LAZR stock price took a U-turn and created a hope for long term investors. From the past couple of months, the LAZR stock prices have traded sideways in the narrow range between $6.40 to $9.00 but sadly in the mid of December, prices break down the lower range which has triggered the negative sentiment and bear’s succeeded to drag the prices further down. On a daily time frame, LAZR stock price had shown a V-Shape recovery from the 52 week low at $3.91 and rising upwards while forming a higher high candle. Source : NASDAQ : LAZR daily chart by Tradingview
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