GSAT Jumps 7%, Tests $67.60 Resistance
$Globalstar(GSAT)$
Globalstar, Inc. (GSAT) Jumps +7.04%: Satellite Stock Rebounds, Eyes $67.60 High
Latest Close Data
Closed at $66.63 on Dec 23, up 7.04% from prior close. Now sits just ~$8.25 below its 52-week high of $74.88.
Core Market Drivers
Positive Sector Sentiment: The broader satellite communications sector has seen renewed interest.
Institutional Activity: Recent capital flow data shows a shift to net inflows, suggesting renewed institutional buying interest after a period of selling.
Technical Analysis
Volume: Daily volume of 691.1K shares with a volume ratio of 0.64 suggests consolidation after the surge.
RSI: 6-day RSI at 56.43, recovering from oversold territory (23.29) earlier in the week, indicating strengthening momentum.
MACD: DIF (2.06) remains below DEA (3.24), with a negative histogram (-2.37). This shows the uptrend is still in a corrective phase, not yet a full bullish reversal.
Key Price Levels
Immediate Pivot: $66.63 (Today's Close)
Strong Resistance: $67.60 (Today's High / Near-Term Test)
Primary Support: $62.31 (Recent Resistance, now potential support)
Valuation Perspective
P/S Ratio TTM: 32.23, indicating a high-growth premium expectation.
P/E Ratio TTM: Negative (-145.45), reflecting the company's current lack of profitability.
Analyst Targets
4 analysts have an average price target of $65.75.
Consensus: 3 recommend "Buy", 1 recommends "Hold".
Weekly Outlook
Expectation: Consolidation between $62.31 (support) and $67.60 (resistance).
Bullish Breakout: A sustained close above $67.60 could target the $70-$75 range.
Bearish Breakdown: A fall below $62.31 may see a retest of the $58-$60 zone.
Risk Disclaimer
This analysis is for informational purposes only and not financial advice. Past performance does not guarantee future results. Investing involves risk, including the potential loss of principal. Conduct your own research before making any investment decisions.
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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
