ASTS is down about 40% from the October 7 lows and is at key support around 39-40 where a long-term horizontal level meets its downtrend line. A bounce would need to reclaim 47.50, then resistance at 52.84; a break below opens 35 and potentially the 31.01 gap fill.

Looking at ASTS, it hasn't moved much today, you know, it's only moved 3% , but since the lows of Wednesday, October 7, we're down about 40% in ASTS, and we're now entering a key support zone .

So, what do I mean by " main"? Well, we have this downtrend line that makes lower lows in the price movement, where it bounces off here and rockets upwards, then comes back here again , and now it's oscillating on this trend line after a sharp move.

Trying to bounce back today. We also reached the 38.99 pivot peak here, which dates back to 2024. So, there is a key support level where this long-term horizontal line meets the trend line here at 39-40.

What if we head downwards? If we break below this trendline, the next major support I see is at this lower pivot point here, which aligns with this level around 35, or a significant steep drop if we head for the large gap fill here at 31.01.

If our hypothesis is correct and we get that bounce in the charts, we will have to reclaim this low pivot point here at 47.50. So, you see the price bounce back initially and then break downwards.

So, the first level to reclaim would be 47.50, then the next major resistance zone at 52.84 for ASTS,