Aftee 🅰️
1.8K posts
Last Friday, I trimmed my $ASTS position in half and rotated those funds to $AEHR. Why? Because my quant @AionAnalytics told me that $ASTS was one of the weaker stocks in the Space sector, and that only 3/5 of its statistical models were bearish. Of course this is easy to say in hindsight but I knew that I could sleep better at night making this decision.
$ASTS daily charts: the key concern is we officially closed below the uptrend from last April. This opens up downside without a quick reclaim or a failure to hold the 175ema and 200sma. This brings into focus the anchored VWAP from last April which sits just above $66, which aligns with my weekly chart level of the weekly 50sma also around $66. There's a trend line on the linear chart that is just below today's close that we tested on Monday's open. If we lose that trend it aligns with another trend also around $66. Since going public, every April has printed an April low that often preceded a strong rally that peaked at the end of June to as late as August. Only in 2022 during the bear market did it take out April's low, but it still rallied far higher by August. The 300EMA currently aligns with the $65/$66 point of interest. With this much confluence both where we closed today and at $66 we have two points of interest that will be very important into next week. Losing last week's low sets it up for a rapid sweep to $66 area imo. How we react at either Monday's low or $65/$66 will determine how deep and how long this correction could last. My lean is a major low will be put in next week or possibly the start of May. Whether that's low to mid $70 or mid $60 probably won't matter by the summer as I still expect this to trade much higher by then. Lastly, it's worth noting that technical levels can undercut and not necessarily invalidate if a reclaim materializes. Have a good weekend! *NFA
I think we bottomed. If not today then tomorrow. *NFA
