Let's consider the risk and the potential upside by checking out the charts.
In the daily bar chart of IRDM, below, we can see that prices managed to double over the past twelve months. IRDM is currently below the cresting 50-day moving average line, but still above the rising 200-day line. The 200-day average line was successfully tested in December and January. IRDM looks like it has chart support in the $24-$20 area, so right now I would anticipate that IRDM will survive another test of the rising 200-day line. The line intersects around $22 now.
The daily On-Balance-Volume (OBV) is mostly neutral the past few months, but has a slight upwards bias over the last year.
The Moving Average Convergence Divergence (MACD) oscillator has slipped below the zero line for an outright sell signal on this time frame.
In the weekly bar chart of IRDM, below, we can see that patient investors in IRDM have done well from the 2016 lows.
Prices are above the rising 40-week moving average line, and the weekly OBV line is also positive. The MACD oscillator has just crossed to a take profits sell signal, so we can take our time on adding to longs.
In this point and figure chart of IRDM, below, we can see a lot of history. A long-term potential price target of $47.50 is being projected.
Bottom-line strategy: Looking to go long IRDM or add to existing longs? Wait for prices bottom and turn up again. Add aggressively on a close above $28. Risk below $20. The long-term price target from the point and figure chart is $47.50.