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Iridium Communic: The Winning Streak Continues (IRDM)

By Shiri Gupta

Iridium Communic (NASDAQ:IRDM) traded today at a new 52-week high of $24.80. So far today approximately 521,000 shares have been exchanged, as compared to an average 30-day volume of 626,000 shares.

Iridium Communications, Inc. offers mobile satellite communications services. The Company's satellites operate in a low-earth orbit and provide 100% global coverage. Iridium Holdings offers voice and data communications services to the United States and foreign governments; businesses; non-governmental organizations; and consumers.

Iridium Communic (NASDAQ:IRDM) defies analysts with a current price ($23.80) 35.3% above its average consensus price target of $15.40. The stock should discover initial support at its 50-day moving average (MA) of $20.46 and subsequent support at its 200-day MA of $19.64.

Iridium Communic share prices have moved between a 52-week high of $24.80 and a 52-week low of $10.75 and are now trading 121% above that low price at $23.80 per share. Over the past week, the 200-day moving average (MA) has gone up 1.1% while the 50-day MA has advanced 1.9%.

SmarTrend recommended that subscribers consider buying shares of Iridium Communic on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.57. Since that recommendation, shares of Iridium Communic have risen 20.4%. We continue to monitor IRDM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows iridium communic

Ticker(s): IRDM