IRDM is one stock you may not have noticed. But this could be a good indication of the Sat Comm space looking ahead. Uptrend in place. Running above an upward-sloping MA. Nearing multi-year highs. Steady as she goes.
In this market i will be using scanners on trading view and scanners that I pay for moving forward. I will be doing this for the next 60 days to see the difference in my portfolio. This is only my 3rd chart if you don't like it please move on.
The Space Economy 2.0 will be a driver for these communications systems, we forecast that the combination of declining space launch costs and advances in satellite technology will raise the value of the space economy from $340 billion currently to $1 trillion over the next two decades.
Both Trend Shift Indicator and accompanying HA strategy are showing a pattern usually shown right before a reversal.
In particular concavity of TSI as measured by HA strategy is typical of a bearish setup
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...
- 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...