$asts strong recovery here back over 21emaAfter getting hammered on overall industry and general market weakness ASTS has made a strong push back over it's 21ema. Not all the space stocks have recovered so well. Very good sign after shaking out some weak hands. Let's see if it can hold it's 21ema on the next dip now as this time of move can often lead to substantial upside.
ASTS trade ideas
bear vs bull case for SASTSBear case vs Bull case
-Bears will need to take the advantage of historically overbought RSI, the break down of rising wedge, and the gaps down in order to push it further down.
-Bulls will need to use the news and push it up with FOMO and close the gap to 17 with a final target at the 20s.
ASTS bearish wave countI will stay away from earning as we approach a critical cycle date as well. Every 70 days we have a flip, and after 3 flips we have a consolidation period of ~140 days. I am expecting a selling event to take place, I don't know what will be, maybe an offering, maybe sell the news... The tricky part is that we are many retailers here and as is well-known institutions will want to participate and have the best price possible. Although if we go above 13.20 will be very bullish as we will invalidate the bearish count. Good luck to all of you!
$ASTSChart Pattern: Weekly breakout retest & recent high VWAP retest and bounced. Ideally would like to see more buy volume coming in (see $GSAT)
Best entry @ $11
Target @ $15
Stop Loss when daily close under $10.75
Timeframe: 3-4 weeks
Note:
$ASTS should be a long term hold (>3 years). Will accumulate more core position through technical trading.
$ASTSLong $ASTS commons
Timeframe 3-5 weeks for technical trading
Chart patterns:
Falling wedge breakout continuation on week 3 with increased volume & weekly triangle breakout - possible breakout retest & bounce needs volume to take a higher leg up
Entry watch:
1. breakout retest @ $11
2. recent high VWAP retest $12
Target (3-5 weeks):
1. $14
2. $15
$ASTS Where to now?ASTS is in the middle of an impulsive move since August 20th that doesn't look to be stopping any time soon. At first glance, we can tell that a bullish cross over the MAs is inevitable very soon, with 8 and 50 day MAs over the 200. The move was also heavily supported by bullish flows. I would like to focus on 2 important points that will be pivotal (excuse the pun) for a move higher. First, mind this week's move above the all time lows' VWAP and the close right above the IPO anchored VWAP. This is very important because in this demand move, buyers are currently pilling up behind a good technical setup and a FOMO setup, especially. Second, the area in the volume shelf is close to working as a launchpad if above the 14.24 level, just as it did around 11.54. I wouldn't mind some choppy action just for the moving averages to catch up, but if it does continue the impulsive move higher, I'd like a daily close above both VWAPs.
another phone plan anyone?eyeing a bounce off the .236 @ $7.92 this Thursday/Friday. If it fails there next stop $6.95. Looking at the November 19th $15-$17.50 calls there's a lot of demand in the monthlies out there, likely writing some covered calls to add supply on to those derivatives. Nothing unusual tho, suggests that people are happy with 5G and switching to a space based service not going to be an easy sell. A short term swing trade more pragmatic the more I look at this. All things being equal, RSI on the 2hr looks atrocious and it's ready for a bid...
$ASTS is gonna fall todayPupm&Dump trading strategy idea.
$ASTS is rising too much today.
The demand for shares of the company looks lower than the supply.
This and other conditions can cause a fall in the share price today.
So I opened a short position from $13,86;
stop-loss — $14,29;
take-profit — $13,02.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
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