American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Business

Joby Aviation stock price is rising: is it a good buy or sell?

by admin November 25, 2024
November 25, 2024
Joby Aviation stock price is rising: is it a good buy or sell?

The Joby Aviation stock price has bounced back and surged to a high of $7.30, its highest level since July 14. It has jumped by almost 60% from its lowest level this year, giving it a market cap of over $5.4 billion, making it the biggest player in the electric vertical takeoff and liftoff (eVTOL) industry. 

Joby Aviation stock has the momentum

The daily chart shows that the Joby Aviation share price has been in a strong bull run in the past few weeks. As it jumped, the stock moved above the important resistance level at $6.60, its highest level on October 23rd. Moving above that level helped the coin invalidate the forming double-top pattern. 

Joby has moved above the 50-day and 200-day Weighted Moving Averages (WMA), indicating robust demand. It has also moved above the Ichimoku cloud indicator.

Meanwhile, JOBY shares have jumped to the strong pivot reverse point at $7.03, meaning that it has more room to rally before getting to the extreme overshoot level of $8.60. 

Joby Aviation stock’s oscillators have all pointed upwards in the past few days, a sign that it has a bullish momentum. The Relative Strength Index (RSI) has risen and is approaching the overbought level of 70, while the MACD indicator has jumped above the zero line. 

Therefore, there are rising odds that the JOBY share price will continue rising in the coming days as bulls target $8.60, which is about 22% above the current level. Most of this upside will be confirmed if the stock jumps above the key resistance level at $7.67, its highest level in July. 

A closer look shows that the stock is in the process of forming a cup and handle pattern, a popular continuation sign. As such, by measuring the distance between the upper and lower side of the cup, we can estimate that the stock will ultimately rise to $12.73. 

The bullish view will become invalid if the stock drops below the psychologically important support at $5.

ACHR chart by TradingView

Joby has made progress

The Joby Aviation stock price has jumped, helped by the strong progress that the eVTOL company has made in the past few years. 

First, the company has a long partnership with Toyota, a company that has perfected the manufacturing process in the past decades Last month, Toyota announced that it would invest another $500 million in the company. Joby hopes to use these funds in the certification and manufacturing process. 

These funds, together with the $710 million it had in cash and short-term investments and the $222 million it raised recently, brought its total hoard at over $1.4 billion. 

Second, the company has created prototypes that have made progress in the certification process. Joby has already cleared the first three stages of certification, which include certification basis, means of compliance, and certification plans. 

It now has two stages remaining: testing and analysis and show and verify. The management hopes that the certification process will be completed by 2025.

Key concerns for JOBY remains

A key concern is that Joby Aviation will need to raise additional cash in 2025 or early 2026 since it is losing substantial sums of money. The most recent financial results showed that Joby Aviation’s net loss rose to over $143 million in the last quarter and $361 million in the first nine months of the year. 

The other big concern is whether there is a strong demand for eVTOL aircraft in the first place. Estimates are that the eVTOL industry was valued at $1.2 billion in 2023, a figure that will hit $170 billion in 2034. 

If these estimates are correct, it means that the company will be in a pole position and have a dominant market share. The challenge, however, is that these estimates are all based on hypotheticals since this is a new industry. 

The other key concern is that the industry is getting highly competitive, with names like Bell Textron, Archer Aviation, and eHang being in a pole position. In China, XPeng has announced plans for its AeroHT, which it hopes will have a leading market share. 

The post Joby Aviation stock price is rising: is it a good buy or sell? appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Rolls-Royce share price key levels to watch as rally stalls
next post
Bitcoin’s weekend slide triggers $500M liquidations, XRP and DOGE lead the plunge

Related Posts

iDEGEN shakes up the market as analysts predict...

November 29, 2024

DraftKings stock price inverse H&S points to a...

November 12, 2024

Red alert as the Petrobras forms the risky...

October 2, 2024

Undervalued but poised for growth: Simply Good Foods...

November 14, 2024

Volkswagen to cut 1,600 software jobs amid profitability...

March 12, 2025

Altcoin update: HBAR and Worldcoin turn bullish as...

January 7, 2025

Top stocks to watch today: Bullish, Cisco, AMAT,...

August 13, 2025

Apple stock under pressure: Will AI glasses make...

May 23, 2025

Buffett’s BAC stake drops below 10%: what it...

October 12, 2024

Fed’s key inflation measure cooled slightly from a...

July 27, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • FBI raid on John Bolton’s home in Washington linked to classified documents

      August 25, 2025
    • Argentine senate deals blow to Milei’s austerity agenda with university budget boost

      August 25, 2025
    • Jackson Hole Symposium: what Powell said about economic effects of Trump’s tariffs

      August 25, 2025
    • At Jackson Hole, Fed Chair Powell signals possible cuts while warning of uncertainty

      August 25, 2025
    • Trump threatens to fire Fed Governor Lisa Cook amid mortgage fraud allegations

      August 25, 2025

    Categories

    • Business (3,763)
    • Investing (2,783)
    • Latest News (2,048)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved