Saad Ullah
⬤ AST SpaceMobile is back at all-time highs, with shares climbing toward record territory after bouncing from a recent pullback. The weekly chart shows ASTS revisiting peak levels in premarket trading, confirming the uptrend that's been building through early 2025. Despite some skepticism about fundamentals, the technical picture keeps getting stronger.
⬤ The rally started from the low $20s earlier this year and accelerated into a sharp move higher. After hitting a previous peak around $100, the stock pulled back and found support near $54—right at the 0.618 Fibonacci retracement level. That support zone held, and price has been climbing steadily since, making higher highs and higher lows along the way.
⬤ Right now, ASTS is in what looks like Wave 5 on the chart—basically a continuation phase rather than a fresh breakout. Price has reclaimed the $100 area and is pushing toward higher Fibonacci extension targets above that level. The momentum remains solid even as some traders question whether fundamentals justify these prices.
⬤ When a stock returns to all-time highs, it's usually a key moment. Strong momentum can pull in more buyers and keep the trend going, but these elevated levels also make the stock more sensitive to any negative news or shifts in sentiment. How ASTS behaves up here will tell us whether this rally has more room to run or if it's time for another breather.
Saad Ullah
