ASTS came close to the bottom of its macro resistance zone, highlighted in my July 21 update, and reversed.
The price is now approaching the mid-term support zone at 47–43, where upcoming earnings could trigger a bounce to the upside.
However, even if a bounce occurs following earnings, the broader market environment suggests that any upward move may encounter selling pressure and limited follow-through.
ASTS Like a redditor once said, if you do 10 minutes of due diligence on this stock you will short it, but if you do 10 hours of due diligence on this stock you will sell your house, kidney and full port here.
Any pullback to retest the breakout support would be constructive. As long as price holds above the 21 EMA, I’m watching for a continuation toward the 65–80 zone, with max extension potential to 83 in the coming weeks.
ASTS came close to the bottom of its macro resistance zone, highlighted in my July 21 update, and reversed. 
