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High Growth Satellite Broadband Leader Forms High Tight Flag

by | Sep 17, 2024

AST SpaceMobile (ASTS) shares of the space-based cellular broadband network are forming a solid bull flag into support near 27.50 and the 21 day EMA after the stock has surged higher this summer amid several positive developments with its satellites launching. The high growth broadband player has a short float of near 15% still, down from 23% in June, but still has plenty of potential shorts to squeeze if prices move back over 30. ASTS has its monthly VPOC at 33.50 as a first target and then the top of value at 39. A close under 25 would be a prudent stop.

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