Iridium Communications: +138% on, but momentum fades at resistance

Iridium Communications is at week 27 of a buy signal with model coverage complete and +138% accumulated gain. The last 3 weeks tell a story of progressive deceleration: after a +6% bounce in late May, the stock has given back 9% over 2 weeks, with indicators signalling a cooling momentum. The resistance zone in the 46-48 area has already decisively rejected the price multiple times this month.