Peter Smith
⬤ ASTS might look boring right now, but don't let that fool you. The stock's technical structure is actually setting up for something interesting. Despite the sluggish momentum, the broader pattern remains bullish and points to another leg up. If wave iii plays out as expected, we could see ASTS push beyond $125.
⬤ The stock's been grinding sideways in a consolidation zone with clearly defined support and resistance levels. Sure, it's frustrating to watch, but this kind of price action often creates solid setups for breakout traders. Once ASTS clears resistance and kicks off wave iii, the upside potential becomes much more compelling.
⬤ This won't happen overnight. The key here is patience—the stock needs to prove it can actually break out of this range. Markets need confirmation before they commit, and the same goes for ASTS. Traders will be watching closely for signs that this consolidation is finally resolving to the upside with sustained buying pressure.
⬤ If ASTS cracks above $125, it could mark a significant shift in the trend. That breakout level would validate the technical thesis and potentially trigger a more aggressive uptrend. For now, it's a waiting game, but the setup looks promising for those willing to stay patient and watch for confirmation before the move unfolds.
Peter Smith
