Iridium Communications is a telecom stock in a clear uptrend. Shares have more than doubled over the last 12 months with clear support at the 50-day moving average.
The dashed white line on the chart highlights the area I have been watching - the 62 price level. This has been a key area of support and resistance and a likely place for IRDM buyers to step in and support the stock.
The 50-day moving average is here as well which should give additional support.
This is buyable here with a sell stop at $60.
The dashed white line on the chart highlights the area I have been watching - the 62 price level. This has been a key area of support and resistance and a likely place for IRDM buyers to step in and support the stock.
The 50-day moving average is here as well which should give additional support.
This is buyable here with a sell stop at $60.