Drones to the sky - Cup & Handle pattern
A massive cup-and-handle pattern is forming in NYSE:ACHR.
The recent price movement has created the handle shape, and now the stock appears to be surging upward.
Graphically, on November 27th, the stock broke through the resistance level of $7.29 with high volume. A brief pullback to test the new support level at $7.29 may occur.
Target Price: Approximately $13 per share.
Additionally, strong and positive news continues to bolster this bullish outlook. Notably, Donald Trump Jr., son of the president-elect Donald Trump, is involved in the drone industry, further supporting this ascending thesis.
The recent price movement has created the handle shape, and now the stock appears to be surging upward.
Graphically, on November 27th, the stock broke through the resistance level of $7.29 with high volume. A brief pullback to test the new support level at $7.29 may occur.
Target Price: Approximately $13 per share.
Additionally, strong and positive news continues to bolster this bullish outlook. Notably, Donald Trump Jr., son of the president-elect Donald Trump, is involved in the drone industry, further supporting this ascending thesis.
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