Lets break down
HOVR
on the Daily Chart!
Price from Mid-Sept to Early-Dec outlined the "Bowl" of the Cup and on Dec. 11th, Price made the Retracement to the Golden Ratio Zone to start the "Handle"!
Today we have Price printing a STRONG Bullish Candle Breaking the Confirmation of the Cup & Handle Pattern @ .8799!
Fundamentally, HOVR secured a $8.4 Million investment from an "unnamed investor" to help with the advancement of the Hybrid Electric Vertical Take-off Aircraft, the Cavorite X7.
- tradingview.com/news/mtnewswires.com:20241220:A3286797:0/
*In order for the Pattern to be Validated, WAIT for Price to Close above Confirmation @ .8799, then we will expect Price to come back down to Retest the Break @ ( .8900 - .8799 ), THEN the Pattern is Validated and we can look for Buying Opportunities!!
Indicators:
-RSI Above 50
-BBTrend Printing Green Bars
-Bullish Volume Building
Price from Mid-Sept to Early-Dec outlined the "Bowl" of the Cup and on Dec. 11th, Price made the Retracement to the Golden Ratio Zone to start the "Handle"!
Today we have Price printing a STRONG Bullish Candle Breaking the Confirmation of the Cup & Handle Pattern @ .8799!
Fundamentally, HOVR secured a $8.4 Million investment from an "unnamed investor" to help with the advancement of the Hybrid Electric Vertical Take-off Aircraft, the Cavorite X7.
- tradingview.com/news/mtnewswires.com:20241220:A3286797:0/
*In order for the Pattern to be Validated, WAIT for Price to Close above Confirmation @ .8799, then we will expect Price to come back down to Retest the Break @ ( .8900 - .8799 ), THEN the Pattern is Validated and we can look for Buying Opportunities!!
Indicators:
-RSI Above 50
-BBTrend Printing Green Bars
-Bullish Volume Building
Note
Today HOVR closed @ $1.15, well above Confirmation of the Cup and Handle and just underneath the area of Resistance Area @ ( $1.15 - $1.30 ).
Here on the 4 Hr Chart we can see the Breaker Candle generated a great amount of Bullish Volume suggesting the Break was Valid!
The extension from the Bulls was halted by the Resistance overhead with Bullish Volume dwindle by end of day suggesting we could see Price make a Retest of the Confirmation of the Cup and Handle Pattern @ ( .8900 - .8799 ) for more Support!