Luminar Technologies, Inc. Stock Forecast
Volatile ride for Luminar Technologies, Inc. stock price on Thursday moving between $1.21 and $1.38
(Updated on Apr 18, 2024)
The Luminar Technologies, Inc. stock price gained 0.80% on the last trading day (Thursday, 18th Apr 2024), rising from $1.25 to $1.26. During the last trading day the stock fluctuated 14.05% from a day low at $1.21 to a day high of $1.38. The price has fallen in 7 of the last 10 days and is down by -37.31% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 382 thousand more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $9.43 million.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.23 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -44.81% during the next 3 months and, with a 90% probability hold a price between $0.677 and $1.00 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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LAZR Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.80%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Luminar Technologies, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.38 and $1.83. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Luminar Technologies, Inc. stock
Luminar Technologies, Inc. finds support from accumulated volume at $1.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.170 between high and low, or 14.05%. For the last week, the stock has had daily average volatility of 13.76%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LAZR) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Luminar Technologies, Inc. to open at $1.28, and during the day (based on 14 day Average True Range), to move between $1.08 and $1.44, which gives a possible trading interval of +/-$0.184 (+/-14.63%) up or down from last closing price. If Luminar Technologies, Inc. takes out the full calculated possible swing range there will be an estimated 29.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.25 (0.79%) than the resistance at $1.30 (3.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Luminar Technologies, Inc. stock A Buy?
Luminar Technologies, Inc. holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -5.861 Strong Sell Candidate Unchanged
Predicted Opening Price for Luminar Technologies, Inc. of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $1.28 ( 1.85%) | $1.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LAZR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.45 | 15.34 % | |
| R2 | 1.39 | 10.19 % | ||
| R1 | 1.35 | 7.01 % | ||
| Current price: | 1.26 | |||
| Support | S1 | 1.22 | -3.30 % | |
| S2 | 1.18 | -6.49 % | ||
| S3 | 1.11 | -11.64 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.44 | 14.29 % | |
| R2 | 1.34 | 5.95 % | ||
| R1 | 1.30 | 3.17 % | ||
| Current price | 1.26 | |||
| Support | S1 | 1.25 | -0.794% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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