IRIDIUM COMMUNICATIONS INC (IRDM) Technical Analysis
NASDAQ:IRDM • US46269C1027
We assign a technical rating of 8 out of 10 to IRDM. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, IRDM is only an average performer.
- The long and short term trends are both positive. This is looking good!
- IRDM is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- IRDM has an average volume of 2172990 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- When compared to the yearly performance of all other stocks, IRDM outperforms 62% of them, which is more or less in line with the market.
- IRDM is an average performer in the Diversified Telecommunication Services industry, it outperforms 61% of 37 stocks in the same industry.
- IRDM is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so IRDM is lagging the market slightly.
IRDM has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 24.25. Right above this resistance zone may be a good entry point.
More info and screens
19.17
We found 2 important support areas.
- Support @22.49 from a horizontal line in the daily time frame.
- Support @19.36 from a trend line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 24.25 to 25.01. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @31.48 from a horizontal line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for IRDM is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for IRDM is up. |
| ChartMill Relative Strength | 62.98 | NEUTRAL | IRDM is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of IRDM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of IRDM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of IRDM is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 60.57 | NEUTRAL | The RSI value for IRDM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests IRDM has a negative trend. |
| Stochastics (14,3) | 70.99 | NEUTRAL | The Stochastics value for IRDM is a neutral value. |
| Average True Range in percent/ATR (20) | 5.07 | HIGH VOLATILITY | The high ATR as a percentage value for IRDM suggests high volalility. |
| Average Directional Index/ADX (14) | 22.66 | NEUTRAL | The ADX value for IRDM suggests a possible start of a new trend. |
IRDM Technicals: Chart, Performance Metrics, Trend & Indicators
24.24
+0.23 (+0.96%)
IRIDIUM COMMUNICATIONS INC / IRDM FAQ
What is the technical rating for IRDM stock?
ChartMill assigns a technical rating of 8 / 10 to IRDM.
What is the trend direction for IRDM stock?
The current trend direction for IRIDIUM COMMUNICATIONS INC (IRDM) is Bullish.
What is the RSI signal for IRDM stock?
IRIDIUM COMMUNICATIONS INC (IRDM) has an RSI value of 60.5655. This indicates that the stock is currently neutral.
Can you provide the MACD signal for IRIDIUM COMMUNICATIONS INC?
The MACD indicator for IRIDIUM COMMUNICATIONS INC (IRDM) has a value of -0.0173493, indicating a bearish trend.
What is the support and resistance level for IRDM stock?
IRIDIUM COMMUNICATIONS INC (IRDM) has a support level at 22.49 and a resistance level at 24.25. Check the full technical report for our detailed analysis of IRDM support and resistance levels.