Globalstar: At the start of a New Impulse Higher
Globalstar, Inc. (NYSEMKT:GSAT), after a big price-volume surge in mid-December, pulled back a little this month, creating a falling wedge formation. The upper-line of that pattern was broken Monday on volume expansion. This was a very good sign for a continuation of the trend, and I am looking for a retest of the recent highs around the 2.20 area. (more…)