U.S. markets open in 8 hours 23 minutes
  • S&P Futures

    4,539.50
    +15.25 (+0.34%)
     
  • Dow Futures

    35,031.00
    +121.00 (+0.35%)
     
  • Nasdaq Futures

    15,099.50
    +66.00 (+0.44%)
     
  • Russell 2000 Futures

    2,064.20
    +5.00 (+0.24%)
     
  • Crude Oil

    87.27
    +0.31 (+0.36%)
     
  • Gold

    1,839.60
    -3.60 (-0.20%)
     
  • Silver

    24.23
    -0.00 (-0.00%)
     
  • EUR/USD

    1.1352
    +0.0005 (+0.05%)
     
  • 10-Yr Bond

    1.8270
    0.0000 (0.00%)
     
  • Vix

    23.85
    +1.06 (+4.65%)
     
  • GBP/USD

    1.3624
    +0.0012 (+0.09%)
     
  • USD/JPY

    114.4700
    +0.1170 (+0.10%)
     
  • BTC-USD

    41,940.69
    +192.71 (+0.46%)
     
  • CMC Crypto 200

    996.00
    +1.25 (+0.13%)
     
  • FTSE 100

    7,589.66
    +26.11 (+0.35%)
     
  • Nikkei 225

    27,774.97
    +307.74 (+1.12%)
     

Quick Take Technical Analysis: AEye, Inc

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

AEye, Inc (NASDAQ: LIDR) gapped up over 20% higher on Tuesday and ran another 70.82% higher before slamming into a resistance level at $9.19 and retracing about 35%.

  • The stock can be volatile due to its super-small float of just 5 million shares. By noon on Tuesday over 57 million shares of AEye had exchanged hands, which indicates the entire float had been traded more than 11 times over. The number seems unbelievable, especially considering 66.48% of AEye’s stock is locked up by insiders and institutions.

  • ‘Too much, too soon” almost always causes a substantial pull back to occur. Lower timeframes can be more important to watch for patterns to develop on highly volatile stocks.

  • Traders may want to watch for an inside bar to develop on the daily chart to take a position if not already in the trade from AEye’s lows. An inside bar is a bullish pattern when a stock was trading higher before the pattern was formed.

  • The long upper wick on the daily candle indicates consolidation is needed before a potential move higher. If AEye falls below Tuesday’s low-of-day the bull run is likely over and a gap fill is likely to occur.

lidr_oct._26.png
lidr_oct._26.png

Want direct analysis? Find me in the BZ Pro lounge! Click here for a free trial.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.