AST SpaceMobile (ASTS) Analysis: Multi-Timeframe BreakdownYet another great week traders and yet another analysis for us to look at today. I've been closely watching AST SpaceMobile (ASTS) across the weekly, daily, and 15-minute timeframes, and there’s a lot happening here. Let’s break it down:
Weekly Chart
On the weekly chart, ASTS has absolutely exploded. We're looking at a massive 50%+ gain this week alone. My Deno LinReg Candles are showing a steep upward trajectory, which aligns with this strong bullish move. The price has surged well above the MA21, and the momentum is clearly in favour of the bulls.
The RSI is sitting deep in the overbought territory, which is a signal that we might see some cooling off soon. However, in such strong uptrends, overbought conditions can persist longer than expected.
Key Support: The closest support on the weekly chart is around $19.36, but the way this stock is moving, we could see new levels of support form higher up if the bullish trend continues.
Key Resistance: There’s no immediate resistance in sight since we’re in breakout territory, but psychologically, round numbers like $35.00 or $40.00 could act as resistance.
Daily Chart
Moving to the daily chart, ASTS has continued its bullish run, with the price extending far beyond the upper band of the CPR. This is indicative of a strong trend, but it also suggests that we might be due for a pullback or at least some consolidation soon.
The MA21 is acting as solid support, and as long as we stay above this level, the trend remains bullish. The RSI on the daily chart is also in overbought territory, so we need to keep an eye out for any signs of weakness.
Key Support: Immediate support on the daily is around $22.68, with stronger support at $19.88, which is near the MA21.
Key Resistance: We’re in uncharted territory, but again, look out for psychological levels as potential resistance.
15-Minute Chart
Zooming in on the 15-minute chart, things are cooling down a bit. After that massive run, the price is starting to consolidate, which is healthy after such a big move. My Deno LinReg Candles are starting to show some mixed signals, indicating that we might see a range-bound market in the short term.
The price is currently hovering around the MA21 on this timeframe, and if it holds, we could see another leg up. However, if it breaks down, we might revisit the lower band of the CPR.
Key Support: Immediate support is at $29.82, with stronger support around $28.00.
Key Resistance: The next level to watch is $31.36, which was the recent high.
Forecast and What to Expect
Looking ahead, ASTS is in a strong uptrend on the higher timeframes, but with the RSI being overbought on both the weekly and daily charts, we could see some profit-taking or a pullback soon. On the daily and 15-minute charts, I’ll be watching to see if the price can hold above the MA21. If it does, the bullish momentum could continue, potentially pushing ASTS to new highs.
However, if we start to see signs of weakness, particularly on the 15-minute chart, I wouldn’t be surprised to see a pullback to those key support levels I mentioned.
Stay tuned, and let’s see where this rocket ship takes us!
