Luminar Technologies getting close to my $1.90 buy target

Mar 11

Luminar Technologies (LAZR) is edging towards my $1.90 purchase limit. Given the psychological barrier at $2.00 just below current prices and the entry into oversold territory on intraday timeframes, it's likely that we'll swiftly dip below $2.00 to test it, then promptly rebound. $2.00 appears to be the robust support level, with $1.90 serving merely as a temporary intraday testing ground. My primary target is $2.00, and I'm considering adding to my position at $2.02, prepared to tolerate any drawdown below that point. I've set my stops at $1.79 initially, with half of my position exiting at $1.69, and I plan to let the remaining portion ride from there.