TopOptionAlert
Oct 26, 9:47 AM
$JOBY NOV06 5C · still actionable
Zone:
$4.73 to
$4.79
Invalidation: close under
$4.50
Objectives:
$5.00, then
$5.50
The math: up 5.0% to the first objective and 15.5% to the second, against 5.5% risk on the invalidation, better than 2 to 1 to the second.
Dear friend, picture a small flying taxi that fell hard all year and finally found a floor to stand on. Joby slipped to 4 dollars and 47 cents on Friday and still closed at 4 dollars and 76 cents, above the 4 dollar and 50 cent low buyers have defended, and the next real test is the November 4 report after the close. This swing simply bets that floor holds into that report, with room first to 5 dollars and then toward 5 dollars and 50 cents if buyers press on. If shares close under 4 dollars and 50 cents, the floor gave way and you step aside.
P.S. Watch 4 dollars and 79 cents, the Friday high, since a move over it shows buyers pressing again.
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