Long Trade in IRDMIridium Communications is a telecom stock in a clear uptrend. Shares have more than doubled over the last 12 months with clear support at the 50-day moving average.
The dashed white line on the chart highlights the area I have been watching - the HKEX:62 price level. This has been a key area of support and resistance and a likely place for IRDM buyers to step in and support the stock.
The 50-day moving average is here as well which should give additional support.
This is buyable here with a sell stop at $60.
IRDM
IRDM Iridium Communications Price TargetARK Invest is selling IRDM Iridium Communications for some time now. They timed the PayPal and Facebook selloff perfectly, so i expect they did the proper research before selling IRDM too.
In this case, my price target is the 28usd support level.
Looking forward to read your opinion about it.
IRDM BUY/LONG READY SOON! 29.00 to rise to potentially 80.00!TICKER CODE: IRDM
Company Name: Iridium Communications Inc.
Industry: Communication Services | Telecom Services | USA
Technical Analysis
1. Large Pennant / Falling Wedge Pattern Broke out and Retraced already
2. Large Head & Shoulders
3. Fibonacci Retracement (Potentially) to reach 0.786 (Silver Zone)
4. Fibonacci Expansion Safe Take Profit Level 1 (Grey Zone) Also the length of Flagpole
Entry: NOT YET READY! PREPARE FOR ENTRY AT 29.00-31.00
1st Partial Take Profit: 61.00
2nd Take Profit: 80.00 (Can consider to full take profit here) - Personally, I would hold this trade Long-term
EXPECTED Take Profit in September - December 2021