Who doesn't like space?
Updated
Virgin Galactic 
SPCE can be an interesting stock to buy soon. Caution should be advised because of potential hype that comes with this kind of stock (no revenue at this time).
Technically, we see a detachment of the mode at $16.82 as of last week. This fires an uptrend that lasts well into Q1 of 2021. Interestingly,SPCE is planning to send 4 employees into space in early 2021.
You could open a small position right now and add in the buy zone, marked with the green zone. I would not risk more than 1% of your portfolio. Stoploss under the low of the mode at $14.21.
To be complete, competitors are Blue Origin (by
AMZN) and SpaceX (by
TSLA).
PS:
Daily timeframe shows Buy zone has already been reached. A new daily mode projects price to reach $23.20 within 4 days.
SPCE can be an interesting stock to buy soon. Caution should be advised because of potential hype that comes with this kind of stock (no revenue at this time). Technically, we see a detachment of the mode at $16.82 as of last week. This fires an uptrend that lasts well into Q1 of 2021. Interestingly,
SPCE is planning to send 4 employees into space in early 2021. You could open a small position right now and add in the buy zone, marked with the green zone. I would not risk more than 1% of your portfolio. Stoploss under the low of the mode at $14.21.
To be complete, competitors are Blue Origin (by
AMZN) and SpaceX (byTSLA).PS:
Daily timeframe shows Buy zone has already been reached. A new daily mode projects price to reach $23.20 within 4 days.
Comment
At October 20th Chanos said he liked SPCE.At October 21th he said he was only joking.
There is still time until November 2nd, as depicted by the arrows. Holding, but will monitor price action today.
Trade closed manually
Time expires today. There might be more upside, but I'm taking my gains. 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.