The Long Investor

$ASTS - RC -

Added 2024-05-16 20:07:33 +0000 UTC

$ASTS finished the day up 68%.....not to be confused with a meme stock because of how hard it climbed today, this is a company that is truly disruptive and it is a satellite based communications company, believed to have better capabilities than Starlink.....with a number of high profile companies in the US invested, including $GOOG.

They reported earnings this week and it was warmly welcomed and the price is now back above the 50 and 200 Day MA.

I like how it finished the day above the blue line at $3.56 which was a previous support level, so any pull back now that can stay above this level will be bullish for me and a buy signal to add.

Losing this level and I have added in the green Fib support levels to look out for.

Overall, bulls want the price action to break out of this large descending wedge at $5.50 to confirm a reversal.