SPCE trade ideas
SPCE has broken the wedge. Retest and a bounce needed to confirmPlease see my previous analysis linked to this update. We see SPCE has already broken the wedge ahead of schedule, indicating very bullish sentiment. Some are calling it "the only pure-play" in the future of Space. Who wouldn't want to take a ride?
SPCE strong support trendlineSPCE needs to hold above my purple support zone and we could see $24 by end of October
$SPCE Virgin Galactic Resistance- Targets
SPCE has tried to stage somewhat of a recovery in recent days, which broke the downtrend
and has now completed a back-test as support.
Currently hitting 2 Fibonacci levels of resistance the primary .382 retracement @ $21.82 + local
fib Golden pocket @ $23.00.
Alert set for break above for a safer entry than current levels. with $27.50 as a likely target.
$SPCE can rise in the next daysContextual immersion trading strategy idea.
Virgin Galactic Holdings, Inc., an integrated aerospace company, develops human spaceflight for private individuals and researchers in the United States.
The share price rose after analysts at Bank of America (BAC) had initiated coverage on Virgin Galactic (SPCE) Monday with a buy rating and a 35 price target.
The demand for shares of the company still looks higher than the supply.
These and other conditions can cause a rise in the share price in the next days.
So I opened a long position from $20,45 ;
stop-loss — $18,67.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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SPCE over 25 soon? What does the chart say?Please first read the chart note first.
The dashed light blue line shows 21 as resistance, and yesterday the little doji candle, thought it shows indecision about moving higher, closed at 21.01.
The green dotted vertical lines show that previously the two bullish runs happened after RSI crossed 70. Will the same thing happen a third time?
Directional movement (volume) is low and the green oval shows there is room for buyers to come in and raise ADM.
If you buy the stock or call options, set stops below Monday's low, and one a little lower, maybe at 20. Since Monday's candle is small the risk stays low.
SPCE long, catalyst on the way & ready to make a big move. SPCE breakout imminent, given market holds up I see 25-30+ on this play minimum.
$SPCE Virgin Galactic Monday Trade
Potential entry on break of downtrend above $21.00
Upside target $24.00
$SPCE Love Space Travel, But You May Want To Wait Before BuyingTechnical Analysis
Currently, $SPCE is respecting a Symmetrical Triangle chart pattern, where neither the buyers nor the sellers are pushing the price far enough to form a clear trend. As of 4/10/2020, the price closed at $20.77, at the slope of lower highs. Even though I believe that $SPCE has explosive long-term growth potential, assuming that the company is able to reach the stage where they are able to successfully follow their timeline and fly Sir Richard Branson to space , based on the technical factors and risk-reward ratio, I strongly advise against entries at the current price point until further confirmation signals.
The reason that $SPCE was able to soar to the $20 mark in such a short period of time from the recent $16 range is due to a gap up driven by BofA Securities upgrading $SPCE to "buy" with a price target of $35.00. However, as you can see from my chart, historically, gaps are almost always filled - rather quickly in fact. There are 2 exceptions where gaps are not filled yet, namely the 3/8/2020 gap down from $24.02 to $21.75 and the 25/9/2020 gap up from $16.43 to $18.29. With the bearish market outlook currently due to POTUS contracting COVID-19 acting as a catalyst and the Symmetrical Triangle acting as a resistance to push the price down, the likelihood that we will revisit $16.43 to close the gap is very plausible. Furthermore, fundamentally, there has been no change to the company yet - at least until 22/10/2020 . Thus, with the price being purely driven by BofA, the $20.00 price may not be sustainable in the short-term.
Entries, Price Targets, Stop Losses
The best price for entry would either be at the $16.43 range or if the price breaks above the Symmetrical Triangle, retrace back to the slope of lower lows or the $21.00 to $21.58 Support and Resistance Zone, and holds above it.
For my price target prior to 22/10/2020, depending on whether you are bullish or bearish on $SPCE short-term, it will either be $24.02 or $16.43. Since I am bearish short-term but bullish long-term, I am leaning more towards $16.43 prior to 22/10/2020. As for my price target beyond 22/10/2020, it will depend on whether the suborbital test flight is successful. I will do an update of this post in the future once $SPCE announces the result.
As for my stop-losses, bulls stop-loss will be at $16.43 while bears stop-loss will be at $24.02. As you can see, if you were to enter into a new position at the current price-point, bulls have an upside gain of $3.25 per share with a downside risk of $4.34 while it is vice-versa for the bears. Thus, the risk-reward is really not that worth it. Even if you are a long-term investor, $SPCE is still at a highly speculative stage. The best-case scenario in the event of a test-flight delay or crash is a plunge towards $16.43. Although if everything goes as planned, $20.77 would look like a steal for you in the future. But if you have the conviction, go for it. It is a really high risk, high reward play for investors, and it will take conviction to stay in the trade.
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SPCE VIRGIN GALACTICGood afternoon, I hope you're all right. Today we present our analysis of SPCE until the end of this (terrible year 2020) MEDIUM TERM. To see this idea I recommend you move around the chart to see medium and short term.
Currently it is in a flat structure, without movements of interest in the last days and without showing possible movements, create a new trend:
SHORT TERM WILL TOUCH THE FIRST SUPPORT, Red OR GO TO POINT A
MEDIUM TERM LEVEL B : BULLISH OR LEVEL C : BEARISH
Sincerely L.E.D Thank you very much for your time and your support.
In Spain at 3/10/2020.
SPCE SHORTlooking for a gap fill on the upside before hand.. long term im extremely bullish on SPCE, however, still in the first wave of 5.. & it looks like we might see more downside before ATHs again.
this chart it reminds me of BTC! after B is done we'll be able to get accurate fib extensions as well.. GL!
