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$SPCE How To Best Position Yourself For Future DevelopmentsThis is a follow-up post from my previous $SPCE analysis on October 4th titled "$SPCE Love Space Travel, But You May Want To Wait Before Buying". Technical Analysis In my previous post, when $SPCE was priced at $20.77 before the moon towards the October 20th's Highs of $24.36, I talked about how at that point in time, $SPCE had 2 unfilled gaps at $24.02 and $16.43 respective, despite having a history of closing any of its gaps. Within that post, I also gave 2 possible scenarios that I foresaw would occur leading up to the October 22nd's window opening for Virgin Galactic's next crewed spaceflight test. If you are interested to see what exactly my previous analysis was about, you can refer to my previous post which I have linked down below in the 'Related Ideas' section. Update 1: Since the post on October 4th, we saw $SPCE prices staying above the Symmetrical Triangle chart pattern after breaking out of it and re-testing the Slope of Lower Highs on October 13th. After rejecting the Slope of Lower Highs, it continued bulling and eventually filled 1 of the 2 unfilled gaps at $24.02 on October 20th. However, after filling the gap and reaching the Highs of $24.36, we saw an immediate rejection within the same 4H candle, creating a Shooting Star candlestick pattern. Later on during the session, we saw prices rejecting all the way down and closing at $20.44 for the day. Update 2: What caused this huge 16% decline from the peak of $24.36? There are 2 reasons for this. The first reason is a technical one based on what I have mentioned earlier. After closing the $24.02 gap, $SPCE entered into a strong resistance zone of $24.26 to $24.85. On top of this, because of the meteoric rise, a Regular Bearish Divergence was also created. These technical factors combined created a retracement cum rejection from the strong resistance zone. Update 3: However, based on this factor alone, it does not justify a 16% decline from the peak. This brings me to my 2nd reason which is short-seller Jim Chanos of Kynikos Associates' comment on the space sector. If you aren't aware of what happened, at an investor conference, Chanos expressed his bullishness on the space sector but later retracted his statement by saying that he was joking. This, combined with the technical factor I mentioned earlier, created a 16% decline from the peak of $24.36. Entries, Price Targets, Stop Losses Because of the highly speculative nature of $SPCE plays at this stage due to so many uncertainties surrounding it and so many things that can go wrong, I can't give an exact price target or stop loss at this juncture. But what I can say is that, if something does go wrong, even the most minute incident that is unfavorable for $SPCE, it is almost certain that we will see $SPCE back in the $16.43 range to close the last unfilled gap. What I can also say is that if you want to trade or invest in $SPCE - don't go all-in yet . The approach to take is to have a small enough position in $SPCE so that you feel that you have some skin in the game but not so much position such that even if $SPCE falls to the $14.00 to $16.00 range, you can still feel emotionless. Personally, I have taken this approach as well, where I have an entry at $20.91 and is mentally prepared to stay emotionless for both a meteoric crash towards $14.00 as well as a meteoric rise towards $30.00. Disclaimer I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise. If this post has helped you out in making your investment/trading decision, give it a huge thumbs up, and follow for more updates regarding this ticker symbol!
NYSE:SPCELong
by UnknownUnicorn6361804
6
GAPS, GAPs, GAPsMr Market likes to fill open gaps. It will do so whenever possible. We have had very good examples of these in recent days. IMO, we are still on a bullish footing at this stage. I have highlighted the green box. You will note today, prices gapped below the green box and finished back within. That green box is the true range of the last (significant) bull bar. Breaks up or down out of the green box usually will signal a continued move in the direction of the break. There is potential downside here as there are lower gaps we have not closed around the support level. If we continue to hold the green square, bias would be for continued upside. My trading stories: dailyxing.medium.com
SP:SPXLong
by mrstockyetoro
$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. Disclaimer I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor. All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise. If this post has helped you out in making your investment/trading decision, give it a huge thumbs up, and follow for more updates regarding this ticker symbol!
NYSE:SPCELong
by UnknownUnicorn6361804
can M fill the gap? 5.75 ---> 7.00Today was a green day on M and ill take it. up a solid +%0.04 in @ around 5.72 avg cost. hoping M will Fill this nice gap upward to about 6 dollars Plus where ill start taking profit hopefully, keeping some to see if she can boost to 7 and beyond. Looked at the Graphs for fun today she currently sitting at the previous levels of support/resistance which for me is nice entry/gamble Opportunity! If she falls, it is what it is.. I will be thinking about cutting me losses if she starts dropping below Instead of Breaking out.. I want the stock to breakout , not Drop! Goodluck everyone @ peace.
NYSE:MLong
by dekirby4
Gap Filling Below ? BTC/USD #cmegap #bitcoin $BTC #cryptoWe see here Bitcoin is sitting at a level where it must soon make a decision. Up or down ? But remember we have a CME Gap below us near 9670 . It is thought these usually fill sooner rather than later before a continuation upwards - and I expect a continuation upwards maybe by Halloween . I will link my 2 ideas previous on this subject below . So I believe we will see a slight breakdown in the next few days probably to 96xx level where that red Bullseye is on my chart above , though it can always spike a bit lower . I'm still bullish for upside after that . But we may gap fill first to 96xx .
BITFINEX:BTCUSD
by shimmeringpath
7
Bullish reversal with a gap to fill aboveUpdated from the earlier idea with adjusted fibs. Where the extension from March to recent monthly highs aligned, I used that fib as marked entry. Solid uptrend established Still oversold on the daily Entry near the fib especially after a successful backtest as support would be a solid entry. First gap comes from a large space in which there was no candle closures since the gap down; this may not be a technical gap down but may have an impact on price action. The true gap is small and marked within. Either way, this should make a nice move upward through that space.
NYSE:SELong
by SpinTrades
Zoom ZM fills gapAfter gapping up by a huge $120 dollars on August 31, ZM has come down to Earth. It finally found resistance at the horizontal support line (in the 344 range.) It has entered back into its ascending channel, and since the two parallel trendlines are very close together, expect predictable price movements. The RSI has just bounced at its horizontal support line as well, So we can expect continued uptrend. If the price were to hit 406(The high of September 3rd) I would consider taking a short term call and wait for it to hit the low of September 2nd, $410. If I had a heavy risk appetite , I might wait for the price to hit the closing price of September 2nd, $423.
NASDAQ:ZMLong
by Isaiahgr3
5
NASDAQ: Daily Next Support $9838 and $9018There is a 9% price drop until the next support is hit. Most recently on Friday the support at $10747 was hit and there was a slight bounce. The expectation is now some sideways slightly down action. If there is a 50% retractment to 11k it would meet expectations. The green lines on the chart is the daily gap up and shows support. The next support is at the minor high of of $9838, which comes right around a nice $10,000 number. "Nice" numbers are more psychological and they provide support and resistance. If you see there was a nice gap up at $7,000 and from there there NASDAQ never look back till 12,000. Enjoy all the Support lines. :) P.S. This analysis was mainly done in conjunction with my podcast where I explain Support and Resistance using Gap Ups and Different Time Frames Below is the hourly Chart Analysis:
NASDAQ:IXICShort
by HaleyZhao
Current 1 day chart chess board. Currently in a 1day chart bear pennant that has a breakdown target of 8.4k or so but could see a reversal at the golden pocket in the 9.2-9.5k range instead of reaching the entire breakdown target. We've also already tested the weekly chart 21 ema(not shown here) as confirmed support so there's a chance of a reversal here but seeing as how we have yet to fill the 9.7k CME futures gap(not shown here) I have a feeling we at least will send a bottom wick down to do that. It is unlikely it will stop there however as too many traders will be anticipating a reversal right after the gap fill so I'm guessing it will overshoot the gapfill target and head lower than 9.7k At this current point and time anything is possible but based on the current shape of the descending bear pennant it looks like we should see some form of a breakdown or breakout around september 14th if not earlier. Setting phasers to neutral for now.
COINBASE:BTCUSD
by DrDovetail
1
Wilmar - Half Empty or Half Full?Wilamr gapped down a hefty 10% after a major shareholder announced that it was planning to pare it's stake amounting to about 2.68% of the issued share capital (a large sum of about $500m). It traded as low as 4.31 before rebouding a little to about 4.37 now. There are a confluence of 3 supports between 4.35-4.38 region (a horizontal support, trendline support as well as 50% fib retacement here). Could be worthwhile to test some longs here for an eventual rise to 4.75 (gap fill). Initial Stop Loss @ 4.29. Should we get stopped out, I will relook it as it approaches the 61% fib retracement level @ 4.20. Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
SGX:F34Long
by Juliac
4