Alright, let's connect all the dots here. We hit the $2.74 price target, as I mentioned before. It's a significant resistance level, and the stock has been running straight up from $1.01 last month. The RSI needs to reset. Considering all the fundamentals, this is a healthy pullback. Also, keep in mind that it's the end of the year, and people may sell for tax...
Gsat has been consolidated for years, with a healthy movement in price and a strong fundamental. Gsat has more chance of going up and could be x10 times higher than before, combined with the partnership deals and Spectrum n53. It seems like the chart is setting up for a big big news for the one and only moment in history.
Gsat is currently building up support at $1.60. In my opinion, it could experience a significant rally and gap-up, similar to when the price was at $1.03. Symmetrical wedge pattern on the daily chart, low RSI. Could be a big run up on ER.
GSAT ER coming up on 11/5 Pre-market, hope they gonna release some good news, we still haven't known the mystery player involved in giving GSAT $90m dollars yet.
GSAT intends to fill the gap before a bounce back. It needs to hold trend line or bounce on the SMA 200. I consider adding some leap calls or shares around $1.45.
GSAT touches the trend line on daily chart, you can take risk to entry around $1.45 and wait for a bounce right here. Moreover, it has a gap down at $1.32, and it could fill the gap around there. Anyway, Gsat is a good stock for long term,.
