Sideways trending SPCE
It is a bit of a change of scenery seeing Virgin Galactic Holdings, Inc (SPCE) trading almost completely range bound trending sideways. Those holding positions over the last 3 months had various opportunities to sell out of the money calls on their positions with out ever being assigned on their option.
With trading volume at levels that are fractions of its peak trading days there is the potential that a surge in activity could dramatically cause a fluctuation.
Seeing how price continues to play within these low ranges to identify where the next level of support will be tested before a potential reversal. With earnings planned for next Monday we can expect to see some movement, unless the market has already adjusted accordingly in anticipation.
With trading volume at levels that are fractions of its peak trading days there is the potential that a surge in activity could dramatically cause a fluctuation.
Seeing how price continues to play within these low ranges to identify where the next level of support will be tested before a potential reversal. With earnings planned for next Monday we can expect to see some movement, unless the market has already adjusted accordingly in anticipation.
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