UAVS, high potential but after transparency
A nice run on UAVS and then a free fall after a short-seller report. As you can guess, it recovered almost immediately after a response.
Should you buy in the dip? Well, it depends. We had a strong bullish accumulation around 10.18 and then around 8. Panic sell broke 10 support area, yet at 8, we had stronger support plus 200ma support and it immediately bounced back from there. That was the sweet spot to get in. Now it is sitting at 10 volume support area, and has the potential to reclaim VPOC and maybe even retest its high. However, for that to happen, we need some green SPY, good PR, and some new fuel to the ticker. I believe in UAVS in long-run. Maybe ARK would start going heavy on this for its space fund. But at the moment with a red SPY of today and generally weaker season, I would wait for some more consolidation before jumping in.
Without any more news, the risk is 8 area and the reward is 11.5 area, so not so much good risk/reward for my investment. With a red SPY, like today, I prefer to stay away from "gambling" or "speculative investment" and trade charts with high risk/reward potentials.
Also look at EH. It follows a similar pattern as well. Reclaiming a support area where we have bullish accumulation but not going further up since those institutions investors may not buy more to push the price higher, due to all the concerns around this ticker.
I would happily buy at the support area around 8 if it ever drops.
Trade safe!
Trade safe.
Should you buy in the dip? Well, it depends. We had a strong bullish accumulation around 10.18 and then around 8. Panic sell broke 10 support area, yet at 8, we had stronger support plus 200ma support and it immediately bounced back from there. That was the sweet spot to get in. Now it is sitting at 10 volume support area, and has the potential to reclaim VPOC and maybe even retest its high. However, for that to happen, we need some green SPY, good PR, and some new fuel to the ticker. I believe in UAVS in long-run. Maybe ARK would start going heavy on this for its space fund. But at the moment with a red SPY of today and generally weaker season, I would wait for some more consolidation before jumping in.
Without any more news, the risk is 8 area and the reward is 11.5 area, so not so much good risk/reward for my investment. With a red SPY, like today, I prefer to stay away from "gambling" or "speculative investment" and trade charts with high risk/reward potentials.
Also look at EH. It follows a similar pattern as well. Reclaiming a support area where we have bullish accumulation but not going further up since those institutions investors may not buy more to push the price higher, due to all the concerns around this ticker.
I would happily buy at the support area around 8 if it ever drops.
Trade safe!
Trade safe.
