ACHR - Flying Taxi Company - 28% Short Float

22 Haz

Archer Aviation Inc advances the benefits of sustainable air mobility. The company is engaged in designing and developing a fully electric vertical takeoff and landing eVTOL aircraft for use in UAM networks. It is creating an electric airline that moves people throughout cities in a quick, safe, sustainable, and cost-effective manner.

Investment Summary
Shares in Circulation: 57.922M
Short Float: 28.25%

Recent Development: Announcement of a planned San Francisco air mobility network has led to a significant stock surge.

Technical Analysis
Critical Range for Continuation: $3.80 - $4.00
Target Price (Take Profit): $7.00
Stop Loss: Set at under $2.90

Trading Strategy
Entry Point: Monitor the critical range of $3.80 to $4.00. If the stock breaks above this range with strong volume, it might signal a continuation of the upward trend.
Profit Target: Set your take profit at $7.00, considering the recent positive news and technical setup.

Risk Management: Place a stop loss slightly below $2.90 to protect against significant losses if the stock reverses.

Considerations
Market Conditions: Keep an eye on the overall market conditions, as they can influence the stock's performance.

Short Squeeze Potential: Given the high short float of 28%, there is potential for a short squeeze, which could drive the stock price higher rapidly.

Chart Analysis
Review the attached chart for detailed price trends and movements. Pay attention to key technical indicators such as moving averages, RSI, and MACD for further insights into the stock’s momentum and potential reversals.

Trading Advisory
Exercise caution and align your trading actions with your risk tolerance and market conditions.
Conduct comprehensive research or consult with a financial advisor to tailor the strategy to your individual circumstances.

Disclaimer
This content is for informational purposes only and should not be considered financial advice.
By following this strategic approach, you can potentially capitalize on the recent positive developments and technical signals for Archer Aviation (ACHR).

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Archer Aviation (NYSE:ACHR) has sunk about 50% since Dec. 14. But the company continues to make progress in its efforts to become a major multinational provider of eVTOL service.

Archer is preparing to offer service in the United Arab Emirates by the end of next year, and it intends to become operational in India in 2026. Moreover, the firm disclosed last month that it had found a partner to help it bring eVTOL service to South Korea. Archer hopes to start providing rides in the Asian country by 2026.

In the U.S., Archer’s aircraft have received airworthiness certification from the FAA, and the firm is partnering with heavy hitters Stellantis (NYSE:STLA) and United Airlines (NYSE:UAL). In a smart strategic move, the firm looks set to make Silicon Valley one of its main hubs, as it recently noted that it plans to ferry passengers to and from five points in the region. The valley combines a great deal of automotive traffic, many early tech adopters and a critical mass of consumers with deep pockets.

Given Archer’s impressive progress and powerful partners, the firm is one of the top flying car stocks to buy on the dip.

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Friday June 28, 2024
04:19:27PM
ACHR
Block Trade: ACHR 1.5M @ $3.52 below bid of 3.56

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Cathie Wood‘s firm Ark Invest sold some of its shares in EV maker Tesla (TSLA) and bought shares of drone maker Archer Aviation (ACHR). Tesla stock jumped on Wednesday, while ACHR shares also saw a spike.

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Keep an eye on ticker JOBY - sympathy play of ACHR