Virgin Galatic long or short
Virgin Galatic has been making its name recently, yet should you be buying or selling? The honest answer nobody knows, yet we can try to get pretty dam close to where its gonna go. Almost everyone knows that this company is gonna be losing money in the short term and mid long term, yet is priced in? I say it's not and its EPS will be corolated with the SP500 with the ETF UFO being connected to SPCE price movement till the reevaluate their portfolio.
For a discloser I sold my SPCE at 27.80 after buying at 11.30, yet I been playing it has a caution from being from the Crypto markets. I'm not saying I'm a bear cause I sold early, but I just want to see confirmation and strength in the graph before reentering with its atl being the $7 range
I would go short with it 19.06 being a last resort hold for the bulls and 25.25 being just above a 60% correction in the micro bubble of SPCE. I put 27.99 give or take as we may have a bounce unless we blow through it. The MACD is bearish with the RSI neutrual, which could have a short squeeze yet looks very dependent on what the EPS is gonna say. A trading range of 38.72 has the high, yet the low hasn't been fully formed just yet but could say at current price could be the bottom of the current trading range, yet the volume has been rougly 100million shares traded daily.
I would be short with no option call just shave off profits and WSB is already moving on from SPCE, yet shouldn't really take financial advise from them since with the amount of traders there could only move the market all together is .01% thats if everyone got behind a stock.
For a discloser I sold my SPCE at 27.80 after buying at 11.30, yet I been playing it has a caution from being from the Crypto markets. I'm not saying I'm a bear cause I sold early, but I just want to see confirmation and strength in the graph before reentering with its atl being the $7 range
I would go short with it 19.06 being a last resort hold for the bulls and 25.25 being just above a 60% correction in the micro bubble of SPCE. I put 27.99 give or take as we may have a bounce unless we blow through it. The MACD is bearish with the RSI neutrual, which could have a short squeeze yet looks very dependent on what the EPS is gonna say. A trading range of 38.72 has the high, yet the low hasn't been fully formed just yet but could say at current price could be the bottom of the current trading range, yet the volume has been rougly 100million shares traded daily.
I would be short with no option call just shave off profits and WSB is already moving on from SPCE, yet shouldn't really take financial advise from them since with the amount of traders there could only move the market all together is .01% thats if everyone got behind a stock.
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