ACHR: Long Position @ Wave 5 (Elliot)
Step 1: Ride the Wave 5 Momentum
ACHR is about to start its Wave 5 rally, offering an excellent short-term long opportunity.
Currently we're in the middle of Wave 4 and we will likely experience 3 to 5 days of accumulation/indecision before Wave 5 starts.
Let’s break it down:
Slow Stochastic Bullish Momentum
The Slow Stoch oscillator is signaling strong bullish momentum, albeit in overbought territory. This is typical during Wave 5 and suggests further upside potential before the trend exhausts. Staying with the momentum while it lasts can be very rewarding.
Massive Volume Spike
In the last three weeks, ACHR has seen a significant increase in volume, indicating strong buying interest. Volume often leads price, and this kind of activity strengthens the case for continued upward movement. The surge in interest can drive the stock toward its next key resistance around $9.84.
Fundamental Catalysts Driving Momentum
Recently, ACHR has achieved major milestones, such as progress on FDA approvals and securing new contracts and orders. These developments add to the bullish sentiment, attracting more traders and creating a supportive backdrop for the rally.
Trade Execution: Enter a long position now to take advantage of the current momentum and aim for a target near $9.84 (the resistance zone). Consider tightening your stop-loss to protect profits as the stock approaches this level.
Step 2: Exit, Wait for the ABC Correction, and Re-Enter for a Bigger Move
After completing Wave 5, the market is likely to enter a corrective ABC phase. This is where it’s smart to exit your position and wait on the sidelines. Why? The correction will likely bring the price down to a more attractive level, allowing for a better risk-reward setup for the next big move.
Once the ABC correction concludes, re-entering around the key support zone sets up a new long opportunity with an eye toward the Q1 2025 target of $12. The long-term fundamentals of ACHR and its growing momentum in the market make this a high-probability setup.
Trade Execution: Watch for the corrective phase after Wave 5 completes. Use Fibonacci retracement levels or support zones to identify a potential re-entry point.
ACHR is about to start its Wave 5 rally, offering an excellent short-term long opportunity.
Currently we're in the middle of Wave 4 and we will likely experience 3 to 5 days of accumulation/indecision before Wave 5 starts.
Let’s break it down:
Slow Stochastic Bullish Momentum
The Slow Stoch oscillator is signaling strong bullish momentum, albeit in overbought territory. This is typical during Wave 5 and suggests further upside potential before the trend exhausts. Staying with the momentum while it lasts can be very rewarding.
Massive Volume Spike
In the last three weeks, ACHR has seen a significant increase in volume, indicating strong buying interest. Volume often leads price, and this kind of activity strengthens the case for continued upward movement. The surge in interest can drive the stock toward its next key resistance around $9.84.
Fundamental Catalysts Driving Momentum
Recently, ACHR has achieved major milestones, such as progress on FDA approvals and securing new contracts and orders. These developments add to the bullish sentiment, attracting more traders and creating a supportive backdrop for the rally.
Trade Execution: Enter a long position now to take advantage of the current momentum and aim for a target near $9.84 (the resistance zone). Consider tightening your stop-loss to protect profits as the stock approaches this level.
Step 2: Exit, Wait for the ABC Correction, and Re-Enter for a Bigger Move
After completing Wave 5, the market is likely to enter a corrective ABC phase. This is where it’s smart to exit your position and wait on the sidelines. Why? The correction will likely bring the price down to a more attractive level, allowing for a better risk-reward setup for the next big move.
Once the ABC correction concludes, re-entering around the key support zone sets up a new long opportunity with an eye toward the Q1 2025 target of $12. The long-term fundamentals of ACHR and its growing momentum in the market make this a high-probability setup.
Trade Execution: Watch for the corrective phase after Wave 5 completes. Use Fibonacci retracement levels or support zones to identify a potential re-entry point.
כתב ויתור
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