candlestickninja

Ichimoku Resistance Turns Support, Key Levels Ahead

Long
BATS:LAZR   Luminar Technologies, Inc.
On the 1-hour chart of LAZR, we observe significant technical developments for the trading day of 4/30/2024. The previous Ichimoku resistance has now turned into support, indicating a bullish sentiment.

Key resistance levels to watch:

$1.65: Strong resistance (confluence)
$1.80: Moderate resistance (corresponds to .382 retracement from the rally, which occurred from approximately $3.60-$3.70 to the $1.20 low)
It's worth noting that the last break below $2 was likely due to BoA manipulation, in the opinion of some traders. Once we break the $1.80 resistance, which serves as a significant psychological barrier, we could potentially see a squeeze on short positions, reminiscent of squeezing a lemon.






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