ASTS good reaction from the mid-term support zone highlighted last week.
Now watching reaction to 48–56 local resistance. A steady series of higher lows into MA support without heavy selling would suggest a constructive base forming ahead of a potential break-out above July highs. But as long as price is closing bellow 56, risk of another leg lower into mid-term support this autumn remains.
ASTS price has been aligning with the trend structure from earlier updates. It has reached a key mid-term support level and appears poised for at least one more bounce attempt or potentially a stronger upside reversal with follow-through above July highs in the coming weeks.
ASTS Of all the stocks this one is the most bizarre. I don't care about their future contracts. At their current Revenue level this stock should be under $10. Their PE Ratio is meaningless because it is at -23.... This means you are paying approximately $23 per share of each $ of negative earnings. Therefore with negative earnings of -$1.86 you should remove $42.78 from the share price to get fair market value. That would suggest that if they were Breaking Even (which they are not) subtract the current price and $42.78 to arrive at $8.22. I understand that their are significant contracts in place but so far they have generated Shiite, however giving the benefit of a doubt, and double the price to $16.44 or even triple it to $24.66 would be an exceptional short term share price. Watch for Downgrades by 2 or 3 analysts in the near future.
ASTS came close to the bottom of its macro resistance zone, highlighted in my July 21 update, and reversed.
The price is now approaching the mid-term support zone at 47–43, where upcoming earnings could trigger a bounce to the upside.
However, even if a bounce occurs following earnings, the broader market environment suggests that any upward move may encounter selling pressure and limited follow-through.
ASTS Like a redditor once said, if you do 10 minutes of due diligence on this stock you will short it, but if you do 10 hours of due diligence on this stock you will sell your house, kidney and full port here.
ASTS good reaction from the mid-term support zone highlighted last week. 
