The Long Investor
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$ASTS
🕑 Added 2025-04-07 19:54:48 +0000 UTCPrice has pulled back with the market and could not hold the important blue support level but has managed to hold on the outside of the descending wedge at $20 today.
The pull back has been corrective in nature which is a good sign, as a pull back in an upward trend should have 3 waves in it
The downside risk is a test of the 0.618 fib at $16 and this level must hold and keeps the price in the wedge, below this level and there is weakness
Otherwise, I only see this pull back as a reaction to weak market sentiment.
If the market bounces for Wave B, this will likely do very well too and start moving up to the blue line at $39
Impulse wave count has not changed either.
Comments
Francisco Martin
👌🏻👌🏻👌🏻
John Keys
Thank you, Cap. It was one of the big gainers today after the fake news.
Collin
Id love to hear a small thesis
Gareth Neary
Not for me right now
Collin
Will you be looking to start a position if you haven’t already?
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