Telesat: Signs US$39 Million Contract with SatixFy to Develop and Deliver Landing Station Baseband Units for Telesat Lightspeed Network
Background: TELESAT CORP is a satellite operator. TELESAT CORP, formerly known as Loral Space & Communications Inc., is headquartered in Ottawa, Canada. Barchart reports that analysts who follow this stock give it a moderate buy rating.
Analysis:
- My Elliott wave count shows a 3-wave corrective decline from 10/23/2024 at 14.81 to 11/7/2024 at 10.82. A move up that breaks the downtrend would be bullish.
- The daily bar candlestick on 11/8/2024 is a bullish engulfing pattern.
- The MACD is giving a buy signal.
- My RSI(2) is clearly showing a short term oversold.
Recommendation:
Buy to open TSAT at 12.16 using a stop order on 11/11/2024. Use our EP-Space trading philosophy to manage the trade.
Happy Trading,
Dave Register
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