LAZR Luminar Technologies Options Ahead of EarningsAnalyzing the options chain and the chart patterns of LAZR Luminar Technologies prior to the earnings report this week,
I would consider purchasing the 2.50usd strike price Calls with
an expiration date of 2024-8-16,
for a premium of approximately $0.59.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Luminartechnologies
Does lidar have a future? LAZRLuminar Technologies, Inc. - the company operates in two segments: developing sensors and software for cars and commercial trucks, and creating integrated circuits for government agencies and defense contractors. In the first segment, the company develops, manufactures and sells lidar sensors and related software for use in driver assistance systems, building autonomous driving systems. Founded in 2012 Headquartered in Orlando, Florida. Revenue $ 8 million (III quarter of 2021). Capitalization $ 5.25 billion
Luminar announced at the November 9 NVIDIA GPU Technology Conference (GTC) that it has been selected as the supplier of lidars for NVIDIA's AI-powered autonomous driving system. The DRIVE Hyperion AI vehicle platform is slated to launch in 2024.
Stocks reacted with growth of 20% (during the session, the growth reached 40%).
Lidar (laser radar) is considered by most automakers to be one of the key technologies for self-driving. With Luminar technology, Nvidia has everything it needs to build a system: sensors, computing hardware, and software.
However, Tesla has abandoned the use of lidar in its system; at Elon Musk's company, the autonomous driving system is built on cameras and a radar, the focus is on computer vision. And lidar, as the founder of the company said, is a waste of time and everyone who rely on it is doomed and that expensive sensors are not needed.
Investors do not yet have much faith in the future of technology either.
The partnership with one of the world's leading computational developers holds great promise for Luminar, as the autonomous driving market will reach hundreds of billions of dollars in the future.
Given a modest capitalization of $ 5.25 billion, Luminar shares have every chance of showing multiple growth over 5-10 years if Nvidia's platform succeeds with Luminar technology on board.
According to the results of the III quarter. revenue increased by 89% year-on-year to $ 8 million against the forecast of $ 8.89 million. Total operating expenses more than tripled YoY to $ 67.4 million.
Wall Street analysts are cautiously optimistic about the $ LAZR stock, with a Moderate Buy consensus. Average target price - $ 26 (upside 80%).
🔧 Trade to bounce off the support level ($ 14).
The instrument approached a strong support level at the daily and weekly TF.
1) Approaching the level through a deep retracement from the moment of the previous touch.
2) Buyback from the level, closing the instrument not under LOW.
3) Approach with a long candle.
4) No recoil fall> 35%.
I expect a rebound from the level and the formation of a local rebound.
Long from $ 14.25-14.5
Goal 1: $ 15.9
Goal 2: $ 16.9
Stop below $ 14
NOT IRR.
LAZR Bull Pennant Breakout?LAZR has been consolidating for some time now waiting for a big move either way, sitting in a nice bullish pennant watching for a retest to that downtrend resistance line and a clean breakout confirmed with an increase of volume to retest ATH.
Key levels:
Support: 31.83, 30.17, 29.50
Resistance: 33.57, 34.50, 36.21, 38.43, 39.50
Options Contracts to consider:
35C 2/12 .95 (High risk)
35C 2/19 1.85 (Medium Risk)
33C 2/19 2.70 (Safe ITM option)
LAZR update 4HRLAZR- sitting in a bullish pennant, barely broke out last Friday near closing time. Currently in my wave 3 of 3. After this month long correction period we could see a nice breakout to retest ATH, keeping an eye on that breakout line. Low volume throughout the past month signaling a reversal coming. If we see an increase of volume this will be confirmed breakout.
Support levels: 33.70, 32, 29.61
Resistance Levels: 34.30, 36.25, 38, 39.70
Luminar Technologies $LAZR (bullish pennant) 🚀Luminar Technologies $LAZR seems to be bullish in the 4H timeframe.
I don't like what I draw in this chart (2 pennants in one 😄) but it could predict technically what's going to happen.
The price target might be between $45 and $63.
We will see...
Your comments are welcome.
##############
Legal disclaimer: I am not a financial advisor. The advice here given is not a financial advice even though my excitement might make it look like such. This account shouldn't be followed by anyone expecting something from me. You trade at your own risk and nobody can guarantee you results. Even if someone could, I don't.
LAZR breakout imminent! Buying opportunity!$LAZR (Luminar Technologies) is on the verge of breaking out of the bullish pennant. Playing this breakout is relatively easy since you can set your stop limits close to your entry. LAZR has been holding the 21 EMA for a month, which is a good sign. RSI and StochRSI are curling up. There is hidden bullish divergence here as well.
Entry: close above the pennant
Profit targets: $38, $40, and $45
SL: $29
