HUGE volume today. They know what's coming. Big conf with AT&T and Morgan Stanley on Wednesday. Maybe contract data announcement this week?
After getting hammered on overall industry and general market weakness ASTS has made a strong push back over it's 21ema. Not all the space stocks have recovered so well. Very good sign after shaking out some weak hands. Let's see if it can hold it's 21ema on the next dip now as this time of move can often lead to substantial upside.
$asts broke 21 ema with emphasis today. Retest of 50sma likely without a positive news catalyst unless general market has a significant turn around.
$ASTS 21 EMA uptrend still intact as space stocks take a beating on the bad ER of GSAT and SPCE
$ASTS solid base formed after bouncing off 21ema again
$ASTS continuing to hold support at 21 EMA. With the 5g data drop eminent it's coiling very tightly now
$ASTS continuing to find support at the 21 EMA as it progresses
$ASTS gap fill and consolidation, speculative play with rare upside
$ASTS formed a short base but a textbook looking one and is going up with a strong push on volume now.
Re-calculating the waves... We do a more complex wave for wave 4. I expect a retracement for the B wave of the zigzag wave (z). And then close the gap at least or more but without infringement wave 1
Bear case vs Bull case -Bears will need to take the advantage of historically overbought RSI, the break down of rising wedge, and the gaps down in order to push it further down. -Bulls will need to use the news and push it up with FOMO and close the gap to 17 with a final target at the 20s.
I will stay away from earning as we approach a critical cycle date as well. Every 70 days we have a flip, and after 3 flips we have a consolidation period of ~140 days. I am expecting a selling event to take place, I don't know what will be, maybe an offering, maybe sell the news... The tricky part is that we are many retailers here and as is well-known...
My long-term Elliott wave count for ASTS. I am taking a long position here as we are getting on wave 3
Possible double bottom with 20% upside, OBV good on long downtrend with a little volume to support.
this is a safe buy zone for possible "hype" pumps in the future.
Price action forming a possible falling wedge, but the volume is low, and without more volume, the pattern is not as likely to break above resistance. 9.3% Upside 2.95% Downside 3.16 R/R Ratio
Chart Pattern: Weekly breakout retest & recent high VWAP retest and bounced. Ideally would like to see more buy volume coming in (see $GSAT) Best entry @ $11 Target @ $15 Stop Loss when daily close under $10.75 Timeframe: 3-4 weeks Note: $ASTS should be a long term hold (>3 years). Will accumulate more core position through technical trading.
Reverse shoulder head shoulder pattern PT:18 It is not investment advice.