Luminar Technologies Inc (LAZR)

[Candlestick_Ninja]

I wanted to provide you with a bullish update on our stance regarding Luminar Technologies (LAZR). Despite the possibility of a drop to $2 or even $1.92-$1.95, as indicated by the downward sloping trend line just below the $2 psychological level (you can find a detailed analysis update on my YouTube channel Bullish Update

), I remain optimistic.

Currently, I have allocated over 50% of my investment capital to LAZR, with an average cost ranging between $2.35-$2.40. Additionally, I have set buy limits at strategic levels: $2.25 (40%), $2.05 (40% of the remaining half of my funds allocated to LAZR), and $1.92 (20%). I anticipate that my buy limit at $2.25 will be triggered tomorrow. However, should I miss out on the other buy limits, I am comfortable with the remaining half of my investment being secured at the current market price, ensuring an average cost position.

Regarding my exit strategy, I have set sell limits at $5.50 (25%) and $9.95 (75%). The latter is strategically placed just below the psychological resistance level of $10, which marks the onset of the short squeeze, making this trade highly valuable.

As a side note, when dealing with psychological levels such as $2 and $10, I tend to set buy limits slightly above support levels and sell limits slightly below resistance levels, typically within a range of 2-5 cents, to account for potential fluctuations and ensure optimal execution.

Thank you for your attention, and let's continue to navigate this trade with diligence and confidence.