EchoStar: High Basing PatternEchoStar Corporation Class ABATS:SATSTradeStationEchoStar rallied in January and December, and some traders may expect further gains. The first pattern on today’s chart is the rounded basing pattern above $104 on the heels of the surge. That kind of sideways consolidation, without significant pullback, may reflect strong buying pressure. It also held a 50 percent retracement of the initial thrust. Second is the March 2 closing price of $118.68. SATS broke above that level last week, which could suggest it’s getting ready to move again. Third, the stock just registered a new weekly closing high above the previous record from January 23. Next, prices have cleared the 50-day simple moving average. That could reflect intermediate-term bullishness. Finally, the 8-day exponential moving average (EMA) is above the 21-day EMA. MACD is also rising. Those patterns may signal short-term bullishness. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. Learn more here about TradingView’s Broker of the Year! Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.