ViaSat, Inc. provides communications technologies and services. It operates through following segments: Satellite Services, Commercial Networks and Government Systems. 

Take a look at the 1-year chart of ViaSat (VSAT - Get Rating) below with my added notations:

Over the past two months, VSAT has hit the $48 resistance (red) on two separate occasions, while also climbing a trend line of support (blue). Together, these two lines have formed an ascending triangle on VSAT. Eventually, the stock will have to break either the $48 resistance or the trendline support.

The Tale of the Tape: VSAT is winding up between two key levels. A long trade could be made at the triangle support or on a break above $48. A break below the trendline would be an opportunity to enter a short trade. 

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade.  Capital preservation is always key!

Good luck!

Christian Tharp, CMT

@cmtstockcoach

Want More Great Investing Ideas?

Do NOT Buy This Dip! Are you prepared for the bear market’s return?

7 “Safe-Haven” Dividend Stocks for Turbulent Times

9 “BUY THE DIP” Growth Stocks for 2020

VSAT shares were trading at $39.83 per share on Monday morning, down $0.53 (-1.31%). Year-to-date, VSAT has declined -45.58%, versus a -3.94% rise in the benchmark S&P 500 index during the same period.

About the Author: christian

Christian is an expert stock market coach at the Adam Mesh Trading Group who has mentored more than 4,000 traders and investors. He is a professional technical analyst that is a certified Chartered Market Technician (CMT), which is a designation awarded by the CMT Association. Christian is also the author of the daily online newsletter Todays Big Stock. More...

More Resources for the Stocks in this Article