$ASTS what was previously the ceiling is trying to be support$ASTS what was previously the ceiling is now trying to be support. Time will tell if it can hold here.
ASTS trade ideas
ASTS - interesting chartNASDAQ:ASTS I've never seen this done on charts before, and I had a little free time. Plotting the Highs & lows from Dec '21 - current. I drew trend lines to interconnect all of the points (this is how I find support & resistance levels).
For those of you not familiar with ASTS - they are building a Low Earth Orbit (satellite) cellular network. Eventually - this will eliminate the need for the millions of cell towers on the ground.
Anyway - low & behold the chart outline. It's kind of "fitting" for a space related company. If there's a Star Wars, or Empire Strikes Back fan - you'll have to tell me what the spaceship is.
$ASTS $T LFGHUGE volume today. They know what's coming. Big conf with AT&T and Morgan Stanley on Wednesday. Maybe contract data announcement this week?
$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.
$asts broke 21 ema with emphasis today. Retest of 50sma likely$asts broke 21 ema with emphasis today. Retest of 50sma likely without a positive news catalyst unless general market has a significant turn around.
$ASTS 21 EMA uptrend still intact as space stocks take a beating$ASTS 21 EMA uptrend still intact as space stocks take a beating on the bad ER of GSAT and SPCE
$ASTS solid base formed after bouncing off 21ema again$ASTS solid base formed after bouncing off 21ema again
$ASTS continuing to hold support at 21 EMA$ASTS continuing to hold support at 21 EMA. With the 5g data drop eminent it's coiling very tightly now
$ASTS continuing to find support at the 21 EMA$ASTS continuing to find support at the 21 EMA as it progresses
$ASTS gap fill and consolidation $ASTS gap fill and consolidation, speculative play with rare upside
$ASTS$ASTS formed a short base but a textbook looking one and is going up with a strong push on volume now.
$ASTS elliott wavesRe-calculating the waves... We do a more complex wave for wave 4. I expect a retracement for the B wave of the zigzag wave (z). And then close the gap at least or more but without infringement wave 1
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!
ASTS wave countMy long-term Elliott wave count for ASTS. I am taking a long position here as we are getting on wave 3
Possible double bottom Space MobilePossible double bottom with 20% upside, OBV good on long downtrend with a little volume to support.
ASTS has a bright future with all the billionaire space hypethis is a safe buy zone for possible "hype" pumps in the future.
ASTS - Return of the WedgePrice action forming a possible falling wedge, but the volume is low, and without more volume, the pattern is not as likely to break above resistance.
9.3% Upside
2.95% Downside
3.16 R/R Ratio
$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.
Reverse shoulder head shoulder patternReverse shoulder head shoulder pattern
PT:18
It is not investment advice.
$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.
Next target for ASTSASTS moving nicely since last few days. On it's way to 14.
Must hold 11.30 or at last 11 to keep this momentum going.
Once it reclaims 14 and stays above, 15.75 next target.
If 11 fails to hold, could retest 9.60
Other support / resistance levels as marked.
