SCNG
is another Sat Comm play that appears to be engaging a strong accumulation bid. The sector is staged for major growth, but there aren't very many clear pure-play stocks to soak up that interest. SCNG is poised as a potential under-the-radar-play that could have big things ahead. Recent action supports that potential.
Key Points:
• SCNG recently launched its Strattner.Space initiative to provide satellite voice, text, data and push-to-talk (PTT) plans and a commercialization platform to the growing satellite communications device market
• SCNG saw assets under management increase by nearly 200% in Q2
• SCNG is coming off an RSI trough under 40 as part of a strong bullish basing pattern followed by a breakout higher
• SCNG could have a cup w/ handle breakout ahead based on chart dynamics – according to our technical read
• SCNG just signed a major satellite data agreement AdvanceTC Ltd to commercialize one million satellite phones