IRIDIUM Beats 3Q Estimates
Background: Barchart reports the analysts have a moderate buy rating on IRDM.
Iridium Communications Inc. provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide.
Analysis:
My Elliott wave count shows a 3-wave zigzag decline from 10/17/2024 at 35.85 to 10/25/2024 at 28.10. I now expect a tradeable rally for a swing trade.
On 10/25/2024 there is a bullish hammer candlestick pattern.
The currently most dominant cycle period is 12 days. A low was due on 10/25/2024.
My MACD indicator gave a bullish signal on 10/28/2024.
Recommendation:
Buy IRDM at the opening this morning. Use our EP-Space trading philosophy to manage the trade.
Happy Trading
Dave Register
ExitPoints CTA