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In this video we take a look at LAZR, and whether this is a buy, hold, or selling opportunity.
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What is up, everybody welcome to trace trades, where we give a technical analysis on different stocks in the stock market as well as buy hold or sell opinions on these. Given stocks i'd like to preface by saying that i'm not a financial advisor nor expert, i'm just a random dude on youtube, so take what i say with a grain of salt with that being said, we're going to be taking a look at ticker symbol, lazr laser Luminar technologies incorporated now holy crap. This thing has seen a run. This is looking a lot like fubo holy toledo.

If you look back at the five-day chart here, we had 25.35 as a price target, a solid price valuation and right now in the pre-market, we're sitting at 37.71, and this thing looks like it's: gon na go freaking parabolic. This thing is climbing yeah. This has been nothing but straight up volume right here, that is money. That's exactly what you love to see.

The reason that i bring this company up today is because i went to this website and i like to look at stocks that are reporting an unusual amount of volume and laser is on this list. So if we look here, lasers, average volume is about 2.74 million, and today it has seen already 35.4 million shares uh traded. It is up 21.4 percent in the pre-market um from this 35 dollar price target. The the volume is one thousand percent higher than normal.

So that's a pretty good sign that there are some insiders that have uh knowledge of what's going on with this stock, some things that we obviously do not know, and another thing that i really like to see here is: you - can see a very drastic increase in Volume over these last few days, so this is about the highest we've seen for a little while it breaks down a little bit still pretty solid volume. Yesterday holy crap, we see a lot of volume here, we've got 1.5 million shares, traded, 1.55 million shares, traded 1.1 million shares traded. This day we saw a lot of volume and it's starting to look like. We might see the same here.

So, let's see if we can find any sort of trend in pattern in the pre-market, the most that we're really seeing in action here is thirty. Four thousand eighty two thousand shares thirty five thousand one hundred seventeen thousand ninety six thousand. Ninety, seven thousand thirty, five thousand. Seventy five thousand one hundred thousand, it's looking like we're shaping up to do the exact same thing that we've been doing for the last couple days, which is really really solid to see.

Now, let's take a look at some indicators here. If we break out a support level, it looks like this was as i was. If we break out the resistance line it looks like this was a very strong resistance line and once we got over that it's been lights out so um the stock is skyrocketing. Right now i mean, if you were able to get in on this literally five minutes ago, you would have you would have turned and burned uh.

You know three dollars a share on on every every single share that you put into this thing. However, i do think when market opens, you will have a buying opportunity to get back into this because, as is usually the case when stocks shoot up extremely high in the pre-market or the after hours, there's usually a price correction that follows. You'll usually see some limit order sell-offs, but if you do not, i think that's a sign that you may want to consider riding the hype on laser. However, i am not a financial advisor or expert so make sure you do your own due diligence.

That is just what i would suggest doing if i was going to get into the stock. Personally, i would be looking for a support level somewhere around here, because let me explain why. If we look at this piece of the chart, you can see that one two three four different times this 32.47 price target was reached and the price was rejected and it came back up when you see a price rejection that strong, it's usually a sign that this Is a level of support in the vice versa? If you see price rejection from the top and it comes back down, that is a sign of a strong resistance, so i think you are going to be looking at. You know probably this as a first new primary support level.

However, we we shall see, i think 35.71 is more likely to be the new support level. But if we do go through this you're going to be looking at 32.47, so make sure you write those two numbers down again: i'm not a financial advisor make sure you do your own due diligence, but this is how i would be playing this play. That's all. I have for the video, though so thanks for coming to the channel guys.

I really appreciate it. Today we hit 52 subscribers, which is fantastic. I started the channel three or four days ago, we're already halfway to 100. So that's amazing.

Thank you all very much. It means the world to me: let's see if we can get to 100 subscribers by sunday. That would be fantastic. I love everybody, that's a part of the family and i appreciate you very much if you enjoyed the video, please like it.

If you did not dislike it, either way you were helping out the youtube algorithm, and that is all i have for you guys so i'll see you guys next time and peace.

By Trey

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