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When you’re a military drone company, the US Armed Forces are going to be your biggest customers. Exactly the case here with AeroVironment (AVAV - Free Report) . Today, the company disclosed that the US Army has lifted the stop work order it issued on the indefinite delivery, indefinite quantity contract with a ceiling value of $990 million between the US Army and AeroVironment. As a result, the company will proceed with fulfilling the $128 million delivery order it issued under the contract.
That was a huge shot in the arm for the company today. It helped the stock rally $21.74 good for 11.9% at $204.50. The stock is now approaching the August swing high just north of $210. The all-time high from June 20th was $224. With the jump in volume here and fierce move off the September lows, I’m expecting a retest of those highs very soon.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding AeroVironment’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.
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Is AVAV the Best Drone Stock to Buy?
When you’re a military drone company, the US Armed Forces are going to be your biggest customers. Exactly the case here with AeroVironment (AVAV - Free Report) . Today, the company disclosed that the US Army has lifted the stop work order it issued on the indefinite delivery, indefinite quantity contract with a ceiling value of $990 million between the US Army and AeroVironment. As a result, the company will proceed with fulfilling the $128 million delivery order it issued under the contract.
That was a huge shot in the arm for the company today. It helped the stock rally $21.74 good for 11.9% at $204.50. The stock is now approaching the August swing high just north of $210. The all-time high from June 20th was $224. With the jump in volume here and fierce move off the September lows, I’m expecting a retest of those highs very soon.
Moving Averages: Bartosiak starts by examining the stock's moving averages, such as the 50-day and 200-day moving averages. He points out the significance of crossovers and divergences between these averages, which can indicate potential trend changes.
Support and Resistance Levels: Bartosiak identifies key support and resistance levels on the chart. These levels act as barriers that the stock price must breach or hold above, providing traders with critical decision points.
Chart Patterns: He discusses chart patterns like head and shoulders, cup and handle, or flags, and their relevance in predicting future price movements. These patterns can offer valuable insights into potential bullish or bearish trends.
Volume Analysis: He emphasizes the importance of volume analysis in confirming price trends. An increase in trading volume during a breakout or breakdown can validate the significance of a price move.
Dave Bartosiak's technical analysis approach adds depth to our understanding AeroVironment’s stock chart. By paying attention to moving averages, support and resistance levels, chart patterns, technical indicators, and volume, he equips investors with a comprehensive toolkit for making well-informed decisions in the stock market. Remember, while technical analysis is a valuable tool, it's important to consider other factors like fundamental analysis and market sentiment before making investment choices.