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AST SpaceMobile (ASTS) Analysis: Multi-Timeframe BreakdownYet another great week traders and yet another analysis for us to look at today. I've been closely watching AST SpaceMobile (ASTS) across the weekly, daily, and 15-minute timeframes, and there’s a lot happening here. Let’s break it down: Weekly Chart On the weekly chart, ASTS has absolutely exploded. We're looking at a massive 50%+ gain this week alone. My Deno LinReg Candles are showing a steep upward trajectory, which aligns with this strong bullish move. The price has surged well above the MA21, and the momentum is clearly in favour of the bulls. The RSI is sitting deep in the overbought territory, which is a signal that we might see some cooling off soon. However, in such strong uptrends, overbought conditions can persist longer than expected. Key Support: The closest support on the weekly chart is around $19.36, but the way this stock is moving, we could see new levels of support form higher up if the bullish trend continues. Key Resistance: There’s no immediate resistance in sight since we’re in breakout territory, but psychologically, round numbers like $35.00 or $40.00 could act as resistance. Daily Chart Moving to the daily chart, ASTS has continued its bullish run, with the price extending far beyond the upper band of the CPR. This is indicative of a strong trend, but it also suggests that we might be due for a pullback or at least some consolidation soon. The MA21 is acting as solid support, and as long as we stay above this level, the trend remains bullish. The RSI on the daily chart is also in overbought territory, so we need to keep an eye out for any signs of weakness. Key Support: Immediate support on the daily is around $22.68, with stronger support at $19.88, which is near the MA21. Key Resistance: We’re in uncharted territory, but again, look out for psychological levels as potential resistance. 15-Minute Chart Zooming in on the 15-minute chart, things are cooling down a bit. After that massive run, the price is starting to consolidate, which is healthy after such a big move. My Deno LinReg Candles are starting to show some mixed signals, indicating that we might see a range-bound market in the short term. The price is currently hovering around the MA21 on this timeframe, and if it holds, we could see another leg up. However, if it breaks down, we might revisit the lower band of the CPR. Key Support: Immediate support is at $29.82, with stronger support around $28.00. Key Resistance: The next level to watch is $31.36, which was the recent high. Forecast and What to Expect Looking ahead, ASTS is in a strong uptrend on the higher timeframes, but with the RSI being overbought on both the weekly and daily charts, we could see some profit-taking or a pullback soon. On the daily and 15-minute charts, I’ll be watching to see if the price can hold above the MA21. If it does, the bullish momentum could continue, potentially pushing ASTS to new highs. However, if we start to see signs of weakness, particularly on the 15-minute chart, I wouldn’t be surprised to see a pullback to those key support levels I mentioned. Stay tuned, and let’s see where this rocket ship takes us!
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NASDAQ:ASTSLong
by Deno_Trading
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AST SpaceMobile Shares Surge 55% on Partnership With Verizon AST SpaceMobile ( NASDAQ:ASTS ) shares have surged more than 50% on Wednesday, reaching their highest level since November 2022. The satellite communication company announced a new direct-to-cellular tie-up with Verizon Communications, which allows it to target 100% coverage of the continental United States from space on premium 850 MHz cellular spectrum. Verizon is committing $100 million to the partnership. Earlier this month, AST SpaceMobile ( NASDAQ:ASTS ) and AT&T announced a deal to deliver space-based broadband network direct to cell phones. The latest partnership deal "will enhance cellular connectivity in the United States, essentially eliminating dead zones and empowering remote areas of the country with space-based connectivity," said Abel Avellan, founder, chairman, and CEO of AST SpaceMobile ( NASDAQ:ASTS ). AST SpaceMobile ( NASDAQ:ASTS ) has also received financial backing from AT&T, Alphabet-owned Google (GOOGL.O), and Vodafone Group (VOD.L). Verizon is getting another satellite partner as it ups its efforts to blanket the US with coverage. On Wednesday, AST SpaceMobile ( NASDAQ:ASTS ) announced that it has reached a "strategic partnership" with Verizon that includes a $100 million commitment from the carrier. The deal will enable it to "target 100% coverage of the continental United States on premium 850MHz spectrum" with the partnership "essentially eliminating dead zones and empowering remote areas of the country with space-based connectivity." Space-based connectivity has become an increasing focus area for wireless companies as they look to fill in gaps in their coverage that traditional, land-based cell towers can't cover. In addition to AST SpaceMobile's work with AT&T, Verizon was previously discussing satellite connectivity with Amazon's Project Kuiper and T-Mobile has announced a similar deal with SpaceX's Starlink. Both AT&T and T-Mobile have similarly talked about how users won't need to upgrade their devices to be able to connect to the satellites, though no carrier has specified if they will need to pay more for the feature or be on special plans to use the space-based connectivity. AST SpaceMobile ( NASDAQ:ASTS ) has already demonstrated test calls from space using a Galaxy S22 and AT&T's network and plans to deliver its first five commercial satellites to the launch pad in July or August of this year, with plans to begin its initial operations at some point in 2025. Technical Outlook AST SpaceMobile ( NASDAQ:ASTS ) stock is up 55.6% as of the time of writing. AST SpaceMobile ( NASDAQ:ASTS ) stock has a Relative Strength Index (RSI) of 83.77 which is largely overbought. Traders ought to be cautious of a trend reversal in the short term. The daily price chart depicts a long "Bullish Harami" candle stick pattern.
NASDAQ:ASTS
by DEXWireNews