AST SpaceMobile Stock Rises on U.S.-Japan Collaboration News

AST SpaceMobile, Inc. (NASDAQ:ASTS) saw a surge in its stock price on Tuesday following a joint U.S.-Japan science and technology statement that highlighted the company’s collaboration with Japan’s Rakuten Group. The statement was issued after a meeting between Michael Kratsios, Director of the White House Office of Science and Technology Policy, and Toshiharu Furukawa, Japan’s Minister of State for Science and Technology Policy, in Kyoto on Sunday.

The statement specifically mentioned the cooperation between Rakuten Group and AST SpaceMobile for the development and deployment of Low Earth Orbit (LEO) satellite infrastructure. This endorsement from the governments of the United States and Japan likely contributed to the positive market sentiment toward AST SpaceMobile’s stock.

Additionally, AST SpaceMobile and TELUS announced the completion of their first integration test between TELUS’ wireless network and AST SpaceMobile’s space-based network. The test involved broadband data, voice calls, and text messages sent directly between smartphones and satellites, demonstrating the potential of the technology.

Despite the positive news, technical analysis suggests that ASTS is trading below key moving averages. The stock is currently 0.9% below its 20-day simple moving average (SMA) ($60.46) and 4.5% below its 50-day SMA ($62.74). Longer-term indicators show the stock is 18.5% below the 100-day SMA ($73.46) and 26.1% below the 200-day SMA ($81.04), indicating that rallies have been counter-trend. The relative strength index (RSI) stands at 46.05, signaling neutral momentum.

Key resistance for ASTS is identified at $67, while key support is at $57.50. During premarket trading on Tuesday, AST SpaceMobile shares were up 3.03% at $60.21, according to Benzinga Pro data.