High volatility in AST SpaceMobile, Inc. stock price on Wednesday which ended trading at $36.44

The AST SpaceMobile, Inc. stock price gained 6.18% on the last trading day (Wednesday, 21st Aug 2024), rising from $34.32 to $36.44. During the last trading day the stock fluctuated 20.47% from a day low at $32.43 to a day high of $39.07. The price has been going up and down for this period, and there has been a 85.54% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 36 million shares were bought and sold for approximately $1.32 billion.

On Aug 16, 2024, it was reported that Scotiabank gave ASTS a "Outperform" grade with a "hold" action.

The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $39.31 will firstly indicate a stronger rate of rising.Given the current short-term trend, the stock is expected to rise 125.37% during the next 3 months and, with a 90% probability hold a price between $46.00 and $88.58 at the end of this 3-month period.

The AST SpaceMobile, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $30.50 and $18.76. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, August 19, 2024, and so far it has fallen -5.60%. Further fall is indicated until a new bottom pivot has been found.

On the downside, the stock finds support just below today's level from accumulated volume at $34.32 and $31.36.There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, AST SpaceMobile, Inc. finds support just below today's level at $34.32. If this is broken, then the next support from accumulated volume will be at $31.36 and $31.03.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $6.64 between high and low, or 20.47%. For the last week, the stock has had daily average volatility of 31.46%.

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for AST SpaceMobile, Inc. stock to perform well in the short-term.