GSAT trade ideas
GSAT long positionGSAT has recently touched on it';s resistance at $2, stoc reveals oversold most recently, a green candle has formed indicating a reversal
Be weary of volume though, it isnt high enough to indicate a true reversal yet
A Good ONEAfter AT&T Buys Straight Path, Globalstar Could Be The Next Telecom Takeover Target
Chart does show an uptrend is starting
Entry: tomorrows open
S/L: $0.73
GLOBALSTAR TEXTBOOK BREAKOUT SHOOTING FOR THE SKYBeautiful textbook breakout out of an corrective wedge after an initial impuls higher.
We formed a nice bottom and correction seems to be over, we broke impulsivley higher above the all important 1.50 area.
Look for a small corrective move towards 1.50 enter with a tight stop at 1.35 and let the market do the work for you.
I love this setup.
Risk:Reward = 1:5
OPENING: GSAT COVERED CALLOkay, okay, okay ... . It is likely that this company is a ginormous turd pile, but the implied volatility in it is high, so I'm pulling the trigger here on it as a small speculative trade.
Metrics:
Bought 100 Shares at 1.61
Sold Oct 21st 2 call
Whole Package: 1.37 db
Max Profit: $63
ROC: 46%
long on GSATGSAT testing previous lows on 1.10 level it looks like a pretty strong resistance. GSAT is also oversold, expecting a bounce of 1.10 level to about 1.26
High IV and Recovering Momentum for GSATGlobalstar Inc has had a complicated relationship with the FCC as of late over airwave use, more specifically, the use of satellite signals for mobile devices to access the internet. Certainly something to look into more and watch as the FCC concludes its voting on the matter. Since GSAT's large selloff, its price has recovered somewhat by ~ 28% over the past 11 days. RSI has a positive slope and is still relatively low at 34.18. MACD has reflected a change in slope of the price level and momentum is in the process of recovering towards the positive side. Very liquid stock and is optionable. An interesting aside; Current implied volatility is 270%. Statistically, this implies that the underlying may increase by 270% annualized. It cannot decrease by 270% since the lowest it can go theoretically is zero. So it stands to reason that, according to current IV, the annualized potential of GSAT's price is anywhere from $0.00 to ~ $4.34. This does not mean for certain the moves are guaranteed, however, all the previously stated may give price a bias towards the positive end of this spectrum.
$GSAT getting "Stronger"Some back & filling here creating a pennant and at the same time testing breakout area 3.09... in the end....further up
Safe trading ladies and gents!
@BLawrenceM
Music at work:
www.youtube.com
open.spotify.com
If you find my charts useful - consider following me on Twitter.
I do updates there on my TV-published charts and annonces quick scalp plays all day long.
