Astra Space sharpens decline - Analysis - 14-06-2022

Astra Space's stock (ASTR) declined in the intraday levels amid the dominance of the main downward trend in the medium and short terms, with negative signals from the RSI after reaching oversold levels, while suffering pressure from the 50-day SMA, settling at 1.54, with trading volumes surpassing 9.3 million shares, above 10-day averages of 4.4 million shares. 

The stock declined after the failure of its small satellites launched with NASA to monitor tornados, with the launch vehicle stopping early than expected.

The company is currently reviewing the trip's logs to identify the cause of the problem. 

Therefore we expect more losses for the stock, targeting the support of 1.00, provided the resistance of 2.87 holds on.

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Expected trend for today: Bearish