after going to space Virgin Galactic has come back down to earthAfter going to space Virgin Galactic has come back down to earth, both literally and figuratively speaking for it's share price action. On July 11, 2021, Virgin Galactic successfully completed it's first fully crewed spaceflight. On August 2021, it opened sales to the Spacefarer community. The Company announced a target of 1,000 reservations prior to the launch of private astronaut commercial service. Approximately 700 of these 1,000 have been sold to date. On October 14, 2021, it announced the beginning of planned vehicle enhancement period, aka no immediate term revenue. Virgin Galactic (SPCE) earnings are on 1/7 at 4:05pm. I'm not expecting SPCE to go to the moon, but I did take advantage of this awful share price value and started a small speculative position through further dated options contracts. Here's the price levels on the 1 day chart.
Q4 December 2021 Consensus:
EPS = -$.43
Revenue = $1.5M
52 week high = $62.80
52 week low = $11.30
SMA200 = $25.19
SMA150 = $25.44
SMA100 = $20.02
SMA50 = $16.20
breakout = $16.90
R3 = $15.98
R2 = $15.05
R1 = $14.13
pivot = $13.20
S1 = $12.28
S2 = $11.36
S3 = $10.43
breakdown = $9.51
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
www.tradingview.com