SPCE trade ideas
ascending triangle, double bottom - two scenariossee arrows. long either way with dec 5 falcon 9 launch.
Nice resistance not enoughWe are trailing right under VWAP but nearing the breaking point of the resistance I dont know if they can resist one more day below $30
SPCE: ALL SUPPORTS AND RESISTANCESNYSE:SPCE
Here is the chart showing all Fibonacci levels .
What now?
Three different scenarios:
-1. consolidation at the current level, and bullish continuation to 40 in a few days.
-2. Immediate bullish continuation.
-3. We pull back to retest the orange line.
From a technical point of view, my opinion is that we will retest the orange line before going higher.
From a fundamental perspective, December is a bullish month for stocks and SPCE could announce the date of its test flight very soon, which would send the stock to the moon.
What's your favorite scenario?
SPCEField Goal Pattern;
Don't like to use it at the highs but I'll give it a shot, it wants to test the highs looks like!
Let's see if we can score....; )
Buy The Dip - SPCE Delayed flight due to "Covid" presents another buying opportunity for SPCE, one of my favorite tickers to swing. I'm looking at another entry around 19.5 - 19.3 and should it break down past that, I'd look to buy more in the $17 range.
Currently no position but keeping cash on the sidelines for this and a few other plays in the near term.
With the positive news regarding vaccines - I'm just waiting for Covid Cases to subside slightly (may not happen soon) to give me a little more confidence NM pulls back on some of the restrictions.
Have a feeling we are going to see a dip / trade sideways for a little but the intrinsic value I believe SPCE holds is something that shouldn't go unnoticed.
GLTA
SPCE Life is probably better in Space...The wealthy Might need to go to space to make up for all the traveling they missed can't see this doing bad even in a economic downturn the rich have even more money now then before Covid. Like The Cup and Hope for A consolidation Reset to Form handle Then Break with Enough Power to get Through the Resistance on volume.. Depth of cup is about 7.50 so look for a move up to the 30's
SPCEAll price levels are algo targets. Expect a reaction at every one of those.
Green= Buy, possible dip target to reenter long
Red= Sell, dip expected at those regions
White= Has to break to confirm following price target
Arrows do not represent the time accurately.
Gann Fan Recorded from ATLGann fan was created DEC 2019, as we see it hovering pre resistance area. this was an area last time that we saw a break out. we can see upwards of $34
if support can hold of next quarter we can see upwards $50
SPCE Cup(s?) and Handle(s?)Looking to see if others think we are forming another cup and handle or if we are in the handle and about to continue upward.
SPCEBased on my analysis:
1. SPCE breakout trendline and cup & handle (21 Oct>19 Nov - 29 days).
2. Breakout with volume above average.
3. Stochastic formed golden cross.
4. I believe SPCE will reach (1) target 26.10 USD and will go towards to (2) target 29 USD.
Syeikh Hafiz
Stock Market Analyst
SPCE setting up for a move to the upsideNYSE:SPCE has lots of potential long term. Looking forward to the success of their last test flight before commercial flights begin.
Long here looking for $20 then $22.
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