Luminar Technologies (LAZR) Forms 'Hammer Chart Pattern': Time for Bottom Fishing?
LAZRLuminar Technologies(LAZR) ZACKS·2024-08-22 22:55

Shares of Luminar Technologies, Inc. (LAZR) have been struggling lately and have lost 39.7% over the past four weeks. However, a hammer chart pattern was formed in its last trading session, which could mean that the stock found support with bulls being able to counteract the bears. So, it could witness a trend reversal down the road.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts a ...