Following up on our previous discussion on SATS Ltd (SATS), in my personal opinion on SATS, the price level of 2.350 - 2.360 is an important pivot level to look out for. Having said that, the current immediate support and resistance level is 2.900 and 3.000 respectively.
Putting everything into perspective, I have the opinion of four possible paths that may be in play:
(1) A move below 2.800 will see SATS trending towards 2.650-2.740. Failure to recover above 3.000 will subsequently likely to see going down back to 2.450 - 2.570. This path will be invalidate if it breaks above 3.09 and move within the uptrend Andrew's Pitchfork.
(2) Similar to the previous path, except that it will trend towards 2.390 - 2.400. A failure to move above the second upward sloping support line will likely to see it retesting back to 1.9300 - 2.000. This path will ...
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