Archer Aviation Inc sees price action meet enough of the trend conditions required by the GoNoGo Trend indicator to paint an aqua “Go” bar.
After a lengthy basing period, we first saw the GoNoGo Oscillator ride the zero line for extended periods where it should have found resistance given that it was in a “NoGo” trend. When on the first of December this resistance was broken, with the oscillator breaking out of the max GoNoGo Squeeze into positive territory we knew that the “NoGo” trend was now threatened. Quickly, GoNoGo Oscillator found support at the zero line and bounced back into positive territory. GoNoGo Trend followed suit and on the current bar is a “Go” as the oscillator climbs further into positive territory. We will look to see if price can consolidate at these levels which is above the highs of the basing pattern. Look for an initial target to be between $7.75 and $8.25, congestion from halfway through the “NoGo” trend.
