SPCE - Short Squeeze Breakout
SPCE appears to have a decent uptick in these recent days.
The resistance at the $7.00 - $7.10 range appears to be shorts trying to maintain sell pressure. However, this stock is growing in interest, peoples screeners are picking it up/retail is beginning to notice the setup. Ideally we see a fast move to the $10 range soon, no major resistance points till the Neckline ridge.
A note:
Once SPCE hist the $10 mark, it will effectively be up 100% from the All-Time-Low it made just 2-3 weeks ago, this could begin a cascade of a squeeze that could move very hard and very fast, highest I can see is $14.00 as shorts in the $7.00 range here will expend a lot of capital to maintain their positions.
The resistance at the $7.00 - $7.10 range appears to be shorts trying to maintain sell pressure. However, this stock is growing in interest, peoples screeners are picking it up/retail is beginning to notice the setup. Ideally we see a fast move to the $10 range soon, no major resistance points till the Neckline ridge.
A note:
Once SPCE hist the $10 mark, it will effectively be up 100% from the All-Time-Low it made just 2-3 weeks ago, this could begin a cascade of a squeeze that could move very hard and very fast, highest I can see is $14.00 as shorts in the $7.00 range here will expend a lot of capital to maintain their positions.
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