SPCE To the Moon or Fake Out Breakout?
Will SPCE make it to the moon or is it another fake out breakout???? In analyzing the 2 hour time chart for SPCE you can see that it is teetering the oversold area yet the MACD is still in a bullish uptrend with no sign of change in the trend so that is promising for SPCE. If the bulls can push this past prior resistance of 21.70, SPCE will certainly head in the direction it is intended to go... straight to the moon. If the bears sneak in and steal the spotlight, fake out breakout. Since March 23 (COVID fear) SPCE has been trading in a rather large spread of 14.51 to 21.70 only breaking resistance shortly from July 16-Aug 4. With fear of the second wave of COVID-19, let's hope SPCE can prove this is a COVID proof business model. Space travel is a reality and is only in the beginning stages but once the first flight goes, I feel this stock will be unstoppable. Gravity proof with no bear able to drag it down.
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