Hi friends hope you are well, and welcome to the new update on LUNC.
Previously on a daily time frame, LUNC was forming a Cup & Handle pattern. But the handle is retraced more than the 0.50 Fib level, therefore, this pattern is now invalidated. But as the priceline has retraced up to 0.618 Fibonacci level, therefore, from here a price reversal is possible because this level is considered as a golden ratio of Fib level. At the same time, LUNC has reached the resistance of a down channel on a 4-hr time frame and now it can break this pattern as well. For detailed analysis, you can also watch the video.
