Virgin galactic aiming lower before any bull trend begins.
Here is an update my recent Virgin Galactic idea. The price has fallen below and retested the rising support line once that was established from the bounce off of $6.90. The blue arrow represents the maximum upside potential before the next leg down. Sideways movement towards the falling resistance line before the next leg down is another possibility. The Red Arrow represents another 20% fall below the current support price of $6.90. This move could represent the bottom of this falling wedge. Will follow up on this later.
Note
Spce is testing the resistance line in premarket trading. It will need to flip this resistance to begin an uptrend. Rejection below $8 should validate the bearish move.Note
Chart is turning bullish. A good place to add some more or make an entry would be between the range of $7.85 - $8.30
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.