Nov. 15 at 8:30 AM
$ASTS: The last close at
$61.4 indicates a significant drop from the 60D high of
$102.79, suggesting bearish market sentiment. The RSI at 26.41 indicates that the stock is oversold, which may present a potential reversal opportunity. However, the MA30 at
$76.46 and MA50 at
$64.81 are both above the current price, reinforcing a bearish trend in the short to medium term.
Directional bias is bearish due to the proximity of the price to the 60D low of
$36.08, indicating further downside potential. Suggested entry could be at
$60, with a stop loss set at
$55 to manage risk. Target 1 could be set at
$50, aligning with the psychological support level, while Target 2 could be at
$45, considering the low end of the recent trading range.
Monitor the RSI for signs of recovery and adjust the plan accordingly.
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