ACHR looking for continuation of bullish momentum.What a great ride this has been the past week! Obviously, this was going to see a significant drop sooner or later. But looking for a bullish continuation after that big red candle. To confirm a bullish reversal after the inverted green hammer, I'm looking for the next day's candle to close above the high of the inverted hammer. Here's the breakdown:
-The high of the inverted hammer is $6.75 (since the candle closed at this price).
For confirmation, you'd want the next candle to:
1. Close above $6.75 to show bullish momentum.
2. Ideally close higher than any intraday resistance observed on the inverted hammer's upper wick (if applicable). ($7-$7.07)
Specific Levels to Watch:
-$6.75 or higher: A close above this level confirms the hammer's high was breached, indicating buyers are in control.
-Significantly above $6.75: The higher the close, the stronger the confirmation of bullish sentiment.
Bullish Target Zones (After Confirmation):
1. $7.16–$7.50: Likely first resistance zones based on psychological levels or intraday price action.
2. $8.00 and beyond: If momentum strengthens, reclaiming levels closer to prior highs becomes possible.
Without a close above $6.75, the inverted hammer's signal is invalidated, and the downtrend could resume. Confirmation is essential for determining whether this pattern marks a genuine reversal or just a pause in bearish momentum. We shall find out tomorrow.
