Virgin Galactic Holdings (SPCE) has been consolidating in a nice triangle pattern since the mid-March lows following the Coronavirus outbreak. The lows of the trend have been respecting the 200MA to form a steady trend line. With the recent news that Virgin Galactic is close to receiving crucial FAA approval- (within the next two flights, as per CNBC)- to perform "regular spaceflights", there is high potential of an upward breakout for SPCE.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.