Some stocks, I've never heard of before, but I come across people talking about them on Twitter, so I decide to take a look at them and keep an open mind.
That is the case with JOBY, and I know nothing about this company, nor about its financials... nor do I care about that.
So long as the markets are being maintained by institutions and haven't been hot potatoed because they're on the verge of bankruptcy, I only care about price action, because I believe that charts are fractals and contain all of the combined information and intelligence of all market participants.
Also, at present I am not looking to invest, because I believe there's a significant market-wide shakeout on the horizon. After that happens will be the time to build commons positions. Right now is just the time to make some trades and build cash.
I hear Joby's Chief is an actual aviation engineer though, and that sounds pretty bullish in the long term.
Anyways, we're (almost) in September now and the entire 2022 can count as something of an accumulation phase for JOBY.
I believe it's primed to take a run over $8 based on the fact that:
1. Swept out short sellers with stops over the March high on Aug. 8
2. Three weeks of "feathery" downturn while maintaining its July pivot structure
3. Unfinished business from November and December lying slightly above a December weekly double top, which is slightly above the Aug. 8 stop sweep.
I also believe the timing is _exceptionally_ good, as the monthly candle is painted like this, and is not likely to actually print like this with two days to go:
I very much doubt it's going to print a big red down candle with a big long wick based on how all of 2022 has already traded at a discount.
Markets at large are set for a significant downturn. However, 'ye ol' $5 stock aviation stocks can go on a 60% tear while the SPX dumps and it won't affect anything, and can provide something of a safe haven.
All the same, it's set up nicely to go for a run. At least, I think if someone was to short here, they'd get themselves a call from margin, for sure.
Other relevant stock calls:
Enovix / ENVX - A Close Shave
&
Peloton / PTON - Pumpy Before Dumpy
&
Blackberry / BB - 'Tis No Bubbling Volcano, But 'Tis a Geyser.
That is the case with JOBY, and I know nothing about this company, nor about its financials... nor do I care about that.
So long as the markets are being maintained by institutions and haven't been hot potatoed because they're on the verge of bankruptcy, I only care about price action, because I believe that charts are fractals and contain all of the combined information and intelligence of all market participants.
Also, at present I am not looking to invest, because I believe there's a significant market-wide shakeout on the horizon. After that happens will be the time to build commons positions. Right now is just the time to make some trades and build cash.
I hear Joby's Chief is an actual aviation engineer though, and that sounds pretty bullish in the long term.
Anyways, we're (almost) in September now and the entire 2022 can count as something of an accumulation phase for JOBY.
I believe it's primed to take a run over $8 based on the fact that:
1. Swept out short sellers with stops over the March high on Aug. 8
2. Three weeks of "feathery" downturn while maintaining its July pivot structure
3. Unfinished business from November and December lying slightly above a December weekly double top, which is slightly above the Aug. 8 stop sweep.
I also believe the timing is _exceptionally_ good, as the monthly candle is painted like this, and is not likely to actually print like this with two days to go:
I very much doubt it's going to print a big red down candle with a big long wick based on how all of 2022 has already traded at a discount.
Markets at large are set for a significant downturn. However, 'ye ol' $5 stock aviation stocks can go on a 60% tear while the SPX dumps and it won't affect anything, and can provide something of a safe haven.
All the same, it's set up nicely to go for a run. At least, I think if someone was to short here, they'd get themselves a call from margin, for sure.
Other relevant stock calls:
Enovix / ENVX - A Close Shave
&
Peloton / PTON - Pumpy Before Dumpy
&
Blackberry / BB - 'Tis No Bubbling Volcano, But 'Tis a Geyser.
