ACHR (Archer Aviation) Technical Setup Anticipates an Explosive Upmove
by Mike Paulenoff
December 1, 2024 • 2:10 PM EST
Back on November 12, 2024, fellow MPTrader member "Rayray" wrote the following when ARCH (Archer Aviation) was trading at $4.83:
Mike, as you may recall I have been an active follower of ACHR. I no longer have a position that I trade off of and am on the sidelines watching a move that I should have participated in . That said, is this the move to $9.00 that has been on the table for a while ?...
My analysis: NO!... ACHR has started a new bull phase that now has a higher target potential closer to 14.00 after it takes out 9.00!.. Fast-forward to today (11/29/24), we see ACHR has followed my technical script, exploding to the upside above an initial key resistance zone at 5.50/80 and this week, extending the vertical assault above a three-year resistance plateau at 7.50-8.00 that accelerated the advance to this AM's multi-year breakout high at 9.84. Now what? From a nearer-term perspective, ACHR points to an exhaustion target zone of 10.00 to 10.40, after which the price action EITHER will settle into a high-level digestion period (1-2 weeks) OR enter a correction that presses down to revisit the 7.50-8.00 breakout plateau ahead of another powerful upleg that projects closer to 14.00. My bias is for ACHR to enter a time-consuming high-level digestion period above 8.00 for 1 to 2 weeks to enable the 50 and 200 DMAs-- now at 3.87 and 3.98 respectively, to catch up to the rocketing price action. In other words, if I owned ACHR, I would be trading half the position, and holding the balance, looking to add back half the position into weakness into the 7.50-8.00 target window... Last is 9.13...
ACHR is a small-cap name in the concept field of eVTOL (Electric Vertical Takeoff and Landing vehicles), gaining some traction with forward-looking governmental agencies promoting clean emissions and reduced city traffic congestion. Although eVTOL could be viewed as something out of The Jetsons, for me, its explosively bullish intermediate-term chart setup captured our attention months ago, and, as so often occurs, anticipated the reasons and backstory justifying the vertical price assault ACHR investors have enjoyed during the second half of November 2024 (see my attached Daily Chart). ACHR rocketed from 4.83 on my 11/12/24 MPTrader update to last Friday's (11/29/24) high at 9.84, or +104%!
ARCH remains high on my radar screen into year-end and well into 2025...
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
markets, plus key ETF component stocks in sectors like technology, mining, and banking.
Sign up for a Free 7-day Trial!
More Top Calls From Mike
On May 6, 2025, during the final hour of trading, and before AMD was scheduled to report quarterly Earnings that evening, I posted the following analysis to our MPTrader Discussion Room:AMD reports Earnings after the close... The only conviction I can derive from my pattern work is that the 4/08/25 low at 76.48, which represented a 66% correction from the March 2024 high at 227.30, has the right look of a significant low that completed a major bear phase.
On April 22, 2025, I posted the following analysis about my technical setup work in XBI (SPDR SP Biotech ETF):XBI (SPDR SP Biotech ETF)-- Could it be? Could it be that the near-40% correction from the 11/11/24 multi-year high at 105.47 to the 4/09/25 low at 66.66 fully discounted all the bad news in this sector? From a BIG Picture perspective, my attached Daily Chart shows this month's spike low into the vicinity of the previous major corrective low-zone starting in May 2022.
In the early afternoon on April 11, this was my note to our members:"IBIT (iShares Bitcoin Trust ETF)-- From a trading perspective, anyone who is in sync with the Bitcoin setup might consider owning IBIT (iShares Bitcoin ETF) against a stop below its 4/07/25 low at 42.98 (see my attached Daily Chart below)...
Last Thursday (4/17/25) afternoon, ahead of NFLX (Netflix) post-close earnings report and the three-day Good Friday holiday weekend, we discussed the technical setup and whether or not the NFLX pattern was positioned to react positively to the news : The NFLX setup heading into Earnings later today is favorable for upside continuation above the prior two rally highs at 993.45 (4/15) and 998.70 (3/25), but not to a new ATH above 1064.
Last Thursday afternoon (4/10/25), the commentary below is what I discussed with MPTrader members about my Big Picture technical setup work: Tomorrow is the final session of the week. We get some big bank Earnings and PPI before the open, and more than likely, one or more POTUS televised events that undoubtedly will move markets one way or other. Technically, tomorrow's (Friday) close will be important to my Weekly Chart Work.