Speedcast (ASX:SDA) bullish signals
Updated
Breakout of the descending wedge could signal a reversal of the downward trend.
Also bouncing off resistance.
Also bouncing off resistance.
Note
The market correction over the last week didn't help this one. It's actually held up quite strong, all things considered. If we extend the bottom line of the triangle, it doesn't actually break through, and has acted as good support.
Note
This one rolled over very quickly after showing some good early signs. The thing to remember about Speedcast is that they are now highly leveraged with their latest acquisition, and will react very quickly to any negative news about interest rates.
I won't be giving this another look until it breaks through the psychological barrier of $4.00.
Note
I'm still bullish on this. MACD divergence is the key with this one. $4 was tested but couldn't punch through. I expect this to reverse trend when the zero line is crossed.
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