I don't have a position in $ASTS. I'll need to study the company's fundamentals before I consider entering a position.
Wave [IV] has retraced 61.8% of Wave [III] and may have hit the bottom. However, this does not mean Wave [IV] has ended.
Wave [A] may have ended and we may be in Wave [B]. Since Wave [IV] covered $70 dollars, this Wave [B] up can go pretty high. Or, if the entire Wave [IV] has ended and we're in Wave [V], then a new high.
In any case, it looks like there is an up wave, if the entire market (SPX) resumes its uptrend.
Wave [IV] has retraced 61.8% of Wave [III] and may have hit the bottom. However, this does not mean Wave [IV] has ended.
Wave [A] may have ended and we may be in Wave [B]. Since Wave [IV] covered $70 dollars, this Wave [B] up can go pretty high. Or, if the entire Wave [IV] has ended and we're in Wave [V], then a new high.
In any case, it looks like there is an up wave, if the entire market (SPX) resumes its uptrend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.