SATS: Continue Down Trend!

  • Post author:

SATS is closing in the price target of $2.57 after breakdown a Multiple Tops chart pattern. SATS is currently trading trading below 20D, 50D and 200D and the down trend may continue to $2.256 (61.8% Fibonacci Retracement Level).  SATS may rebound at about 78.6% Fibonacci Retracement Support level before continue to down trend.

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SATS: Breakdown from Multiple Tops

  • Post author:

SATS has broken from the neckline support & 200D MA support today after forming a multiple tops with increase in selling trading volume. This is a bearish chart pattern and this breakdown may bring SATS to $2.57.

Important things to watch:

  • Whether SATS can rebound from this 200D MA support and stay above $2.80.
  • Whether this $2.80 turned support to resistance.

In summary, the current SATS charts look bearish, and downside risk is much higher than upside potential. $2.97 is a very tough resistance to break as SATS has failed the past 5 times.

  • Current PE = 16.9
  • Rolling PE = 16.2
  • Dividend Yield = 4.6% (base on $2.78 stock price)

SATS is at fair value. This correction may be good for those who want to buy SATS at lower price to collect dividend.

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SATS – Forming a Rising Wedge

  • Post author:

SATS is forming a Rising Wedge pattern. This Rising Wedge pattern in an up trend is a trend reversal pattern.

Technically base on the chart pattern, the upside potential is about 5.4% (from current price of $2.76 to resistance of $2.91). Downside risk is 24% (from current price of $2.76 to $2.10 price target after breaking down from Rising Wedge).

Fundamentally SATS current PE does not show much upside potential. SATS current PE is 16.65 compared to past three years average PE of 17.66.

SATS does not look attractive to me both technically and fundamentally except giving a dividend yield of 4.7%.

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