HOVR Heading For New Horizons?! Cup & Handle Set-Up
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
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
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!
Note
After the Break of Structure Confirming the Cup and Handle Pattern, we see Price has started to form what looks to be a Pennant Pattern in this Previous Area of Resistance.
-WATCH FOR BREAK OF EITHER LEG!
*If Bulls are unable to continue pushing Price Higher, we could see Price Break Bearish and make a Pullback to the Break of Structure to Validate our Cup and Handle Pattern to then find Support @ ( .8799 - .8900 )
**If Bulls can Push and Hold Price above the Falling Resistance of the Pennant, we could potential see the Resistance-Turn-Suppport @ ( $1.15 - $1.30 )
Trade active
HOVR has made a Retest of the Falling Resistance and the Resistance Zone from the Sept. Highs showing potential to turn Resistance-into-Support!**CAUTION**
Here on the 1Hr, Price is potentially forming a Hanging Man Pattern meaning if Price can NOT hold above the Resistance Zone, we could see Price work below!
Added Shares @ $1.25
Note
After the Economic News for USD came out today, we seen price make a drop and test the Break of Structure to Validate the Cup and Handle Pattern @ .8799 and the Daily forming a Dragonfly Doji Candle suggesting Price certainly found Support!
Added Shares
Note
Another opportunity to invest in
HOVR comes with Price testing the BOS to Validate the Cup and Handle Pattern.This also comes on the Fundamental move where
HOVR has signed a Letter of Intent with Discovery Air Chile to produce and lease 5 Cavorite X7 eVTOL's by 2028.-tradingview.com/news/reuters.com,2025-01-10:newsml_GNX98RZn4:0-horizon-aircraft-signs-letter-of-intent-with-discovery-air-chile-ltda-expanding-global-presence-of-cavorite-x7-hybrid-evtols/
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
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Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.