Technically with RSI over 70 and a nice breakout above previous highs NASDAQ:IRDM is ready for a little cool down. Looking at the previous tops I would expect it to go back between ~$19 and ~$21. IRDM had some positive news about providing the FAA with data in regards to the 737 Max which I believe helped it reach these new highs.
An intraday high potential, Back Tested Long Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
Iridium has reported well the last couple of quarters. The biggest story and "show me" aspect of it is its Constellation Network rollout that will be completed this year. This month, 55/75 satellites will now have been launched and in orbit with help from SpaceX (an amazing partner with a healthy record). There's little reason to believe they won't meet their...
Fundamental:
- Iridium launched multiple satellite successfully with SpaceX for its Iridium NEXT constellation. The launch cost is relatively low.
- Recurring revenue with positive profit compared to its competitor ORBSCOMM which is losing money every quarter
- Trump is privatizing Air Traffic Control which is a major business for one of the iridium's...
