ARCHR can bounce of 50SMA
Updated
Archer aviation is clearly getting support at 50 SMA. Yes it has had a parabolic jump in the last weeks, but the drop after the news on the 500 million USD is contrary. I think people just sold the news. But the same happened to #sofi and I think will happen to this stock as well. The PT for this is over 12 by most analysts so I believe this is a good swing trade.
Trade active
As predicted this stock has gone up and we are nearing the resistance level of 9.65. We will see how the market reacts at this level. I think taking partial profit here is wise.
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