Feeling spaced out? Virgin Galactic Holdings
Short Term - We look to Sell at 7.56 (stop at 8.42)
Preferred trade is to sell into rallies. Broken out of the channel formation to the downside. We have a 38.2% Fibonacci pullback level of 7.47 from 11.25 to 5.14. Our overall sentiment remains bearish looking for lower levels. Previous resistance located at 7.50.
Our profit targets will be 5.19 and 4.18
Resistance: 7.50 / 9.00 / 11.00
Support: 5.00 / 4.00 / 3.00
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Virgingalactics
VIRGIN GALACTIC - Space Flight Completed✔️👨🏻🚀Unlike English football not coming home and shocking the world with the racist attack on the poor sidelined bench players (go short on Southgate...), Sir Richard Branson 💂♂️🇬🇧 took England to outer space and back home, safely and in pure British style.
This is history in the making, the billionaire and visionary making his dream a reality and promoting his business in the best way possible.
Big BRAVO and a lot of LOVE and admiration for Branson and Virgin Galactic . Not sure if he had Italian pasta and a glass of Amarone when back home.. Forza Italia, well done.
Our chart also proposes a strong buy.
the FXPROFESSOR
SPCE newsThe first powered test from Spaceport America was scheduled for December but computer trouble caused by electromagnetic interference prevented the spaceship’s rocket from firing properly. The test was rescheduled for February but then scrapped as the team continued working on the interference issue. Colglazier said the flight now is scheduled for May.
Fundamentals: Whenever a new test flight was announced, the NYSE:SPCE price increased.
Technical Analysis: MACD crossing, we can see reflection from the support and overcoming resistance
SPCE Virgin Galactic Ready For Selloff? This is when i told you about the Buying opportunity of Virgin Galactic stocks, at 21 usd:
Test flight failed to reach outer space!
The company said that during a test flight launched on Dec. 12, the rocket motor “did not fire due to the ignition sequence not completing,” keeping the flight from reaching space. (marketwatch.com)
The indicators gave a sell signal on Friday.
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SPCE 4 Hour Chart AnalysisIt seems as though when it comes to the MACD 4 Hour and SPCE
SPCE seems to respect the first bull candle created in the MACD quite well
Looking at previous bull runs for this stock, it seems to rise exponentially higher when the MACD 4 Hour bull candle is created
Looking at the 4 Hour MACD right now it seems like we might create another bullish MACD candle on the 4 hour chart very very soon
but first we might see a drop down to $12, as you can see on the hour chart it crossed resistance and bounce back but it crossed
it might retest the $12 levels depending on where the market sentiment is, but the more important thing to look at is the creation of a green MACD cande
that is the prime indicator for SPCE's direction
and like i said a couple sentences back, its looking like its going to create another one soon and when it does, it, on average goes up anywhere between $7-$10/share
the first bull run we saw an increase of about 100% or $20 when it ran up from $19 to $40
with the market being where its at now, i can easily see a run up of minimum $5-$7 after the green candle on the MACD is created
there is also the sentiment that we are in a full out bull run, which, in case, we might even see a full run back to the $40 and possibly a break of those ATHs