SPCE trade ideas
SPCE - Time to go into Space!Hello everyone,
We have amazing news in regards to the news of Sir Richard Branson going on a flight to space.
I am would expect that the huge channel we have formed would break and the next target would be at least 70$ up to 100$ if the flight is successful.
Good luck to everyone!
Panic Subsides, Bezos Flies into Space, and Nvidia Splits StockIf yesterday the stock markets poured in for no particular reason, today they also grew in general without any special reason. In the sense that nothing fundamentally new in the news background happened. This is the specificity of price dynamics, behind which is not fair value, but human sentiments.
The main event of yesterday from the point of view of the hype in the news background was the successful flight into space of the main rich man of the planet, Jeff Bezos. After that and Branson's flight last week, the era of space tourism can be considered officially kicked off. The capacity of this new market is measured in hundreds of billions of dollars (trillions by some estimates). So, Blue Origin and Virgin Galactic look like very promising shopping destinations. Especially when you consider that after Branson's flight, Virgin Galactic's share price lost about 50%. Just in case, we recall that private investment in space is still available exclusively through Branson's company.
Another important event for the US stock market was the split of Nvidia shares. Stocks split 4 to 1. The motivation is typical: to make stocks more accessible to small investors. The antagonistic approach is the refusal of splitting in order to cut off all kinds of incompetent subjects from participation in the capital. The most prominent adherents of this approach are Warren Buffett and his Berkshire Hathaway. One share of the company is now worth about $420K.
The reporting season in the US continues. The top event of yesterday was the publication of NetFlix results. They cannot be called breakthroughs: the profit came out even slightly worse than market expectations. The number of subscribers was formally higher than expected, but in reality 1.5 million is the weakest result for the company in recent years.
SPCE: Time to buy now?Hello traders and investors! Let’s take a look at SPCE again! Is it finally interesting now? Well, we’ll see.
SPCE is still in a bear trend, and there’s not a single reversal sign around. We can assume SPCE is just bouncing back to its 21 ema, before it drops again.
However, I agree that the recent candlesticks are looking interesting, and it gets better if we look at the daily chart:
Despite the lack of bullish structure in the 1h chart, we have a good candlestick pattern here, which looks like a Bullish Engulfing , just above the support level made by the 61.8% Fibonacci’s Retracement.
The 50% retracement didn’t hold the price as I thought in my previous analysis, but the 61.8% is as good as any retracement. The volume is good too, and this could be a buy sign.
The problem: It is a very risky buy, as we have no solid bullish structure around, and just one candlestick pattern might be not enough. What’s more, the volatility is quite high, SPCE should decrease it a little bit more, and a sideways movement f or the next weeks is something we can imagine. Moments like this brings a lot of stress, as we see many erratic movements.
To sum up, if I had to do anything on SPCE, I would buy, as the Risk/Reward ratio favors long trades. Nevertheless, since I have option to stay out of this, I rather prefer to trade other stocks, outside of people’s radar, which are much more interesting than SPCE.
Remember to follow me to keep in touch with my daily updates, and support this idea if you liked it!
Thank you very much!
Virgin GalacticSunday, 18 July 2021
14:23 PM (WIB)
Very interesting and attractions to see Virgin Galactic Space Race demands.
Do you ever dreams to go to Outer Space to see the beautiful Earth from there?
I want to go there! Seeing Earth from Outer Space.
So, here is the way to go there.
Best regards,
RyodaBrainless
"Live to Ride and Ride to Live"
Good to add it in watchlist for next weekNeed to watch if the correction is over with this or we are going down to 24.
SPCEVirgin Galactic (NYSE:SPCE) has pulled back all the way to its 200-day exponential moving average which is a key technical support level. Might bounce next week.
Should consolidate now. Will wait for the test to pass There is a gap as shown...could fill that but down move is not supported by volume
Composite man can't fool me :))
SpceI posted on the 11th that a short was needed around 52. Locked it in. Took half the profits early let the rest ride. Up a shit ton wish I kept the rest. Either way gains are gains. 26.70 is lower trendline support. It failed to hold for the first time upon dipping to 16$ range. I feel that we can expect it to hold up around 26.60-26,70 however failing that level could result in a retest of the 16s. I have had at 27$ target since the breakdown so I will be buying some around 26-27.80 to start nibbling a hair
🟢 Added to $SPCE Target 46.68 for 32.54% (Risk Level - Med/high🟢 Added to $SPCE Target 46.68 for 32.54% (Risk Level - Med/high)
Or double position at 15.94
I added again today at 30.76
I rated this one Med/High because the next true support is down at 14.28
And there are also two gaps to fill, so if in doubt just wait and come in lower.
-----
—
On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
Numbers with an A are places that are a good idea to add if you can.
Numbers with a D are places where you should double your position.
I start every position with .5 - 1% of my account and build from there as needed and as possible.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
SPCE bound *update*If space closes under $30, I believe we’re going bearish until the next retracement support in the lower $20’s.
SPCE Gains and Draw Downs from 200 DMASPCE has respected the 200 day moving average in the past very well and we're very near that mark today. SPCE did hit the 200 day moving average a couple days ago but that was in pre-market hours.
In this chart are the gains and draw downs from the 200 day moving average. Long terms investors may be looking to acquire shares at this level while shorts may be looking to exit.
🟡WATCHING $SPCE for ENTRY TARGET @ 35.19WATCHING $SPCE for ENTRY TARGET @ 35.19
I will repost when it get’s closer if it goes that way and if it makes higher highs I’ll repost with new entry.
Look to the right. ENTRY target in grey. Sell target in green. Double position target in red. That’s it.
what's next? if the price fail to stay above 31$ there is a chance that we can see 24-25 $ in the following days...
🟢 $SPCE Target 48.15 for 31.22% (Risk Level - MED)🟢 $SPCE Target 48.15 for 31.22% (Risk Level - MED)
Or double position at 29. 01
Open add order @ 30.76 Check chart for additional add levels…
I posted this one yesterday but they I got the dreaded 24 hr TV flag restriction 😬... haha... it's ok...
-----
—
On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
Numbers with an A are places that are a good idea to add if you can.
Numbers with a D are places where you should double your position.
I start every position with .5 - 1% of my account and build from there as needed and as possible.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
I was wrong, SPCE got discounted after all! What next?After the successful flight with Branson on board, my prediction was that the price will reach above the all-time high at 62.79 However, the company decided to raise additional capital through issuing new shares AND the first following trading day wasn't exactly good for the stock market overall. Both factors combined lead to cumulative selling.
Even though some profit-taking (and hence drop) was bound to happen after this massive growth, I didn't expect it right after the event.
Today's chart shows three bearish candles which are behaving exactly according to Wyckoff's law of effort vs. result . This means, that there isn't much hideous buying and the drop is genuine and strong.
There are two supports staying in the way of further drop. 200 MA slowed the price every time it was approached. I highlighted all recent instances with a pink circle.
Monthly Highs/Lows are always good to be aware of. Blue circles show recent reactions to monthly Highs and Lows.
200 MA and the previous month's Low are very close and are likely to be tested today or tomorrow. I think it is a good place to buy extra shares, but the price is unlikely to rally to previous levels right now! There are no scheduled events that would trigger interest in the stock and financials are scheduled just 21 days away.
A company announced that it will report its financial results for the second quarter of 2021 following the close of the U.S. markets on Thursday, August 5, 2021. Virgin Galactic will host a conference call to discuss the results that day at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). (14th July, official website of VG)
This company has a future and has just demonstrated that it can fulfill its vision. But with no events in sight for both Virgin Galactic and Virgin Orbit, Galactic will be in the shadow of other big players and won't attract many new investors until such events occur.
I might be wrong again.
Good luck!
VIRGIN GALACTIC From our previous analysis on the same, we took a buy at 20 level and traded wave 3. Price is now in a corrective phase to complete wave 4 then we get in and buy wave 5
SPCE bounce incomingMany investors in the SPCE were betrayed by the green of Brandon and company and they were hoping for good future but instead chart has turn on them.
Despite sell off we can see incoming golden pocket and 50 MA , although sellers were not exhausted today we could see bounce to the Friday which would slow down the the downtrend. Overall on the weekly and monthly charts SPCE appears in uptrend. We have crossed the previous head and shoulders neckline. RSI index is at 32 and Slow stochastic is getting over sold which could also signify incoming bounce.
Golden pocket is at 31 and next support is at 29. Psychological level of 30 could see some incoming bulls.
SPCE Virgin Galactic Where Are The Buyers?This is a daily chart of SPCE. As you can see, SPCE is currently within an uptrend which is best defined by a large channel.
The most ideal entry would be around $23-$25 as this would be the bottom of the channel, but that doesn't mean the price will drop that low.
As we've seen in the past, buyers have stepped in at the 30 Week Moving Average which is the green moving average that the price is currently at. The 200 day MA (blue) would also be another good entry as it has supported the price before in the past.
There are a lot of people looking to invest in SPCE, likely a lot more than before now that Virigin has had a successful flight, but panic sellers, shorts, and Virgin diluting shares has brought down the price quite a bit from it's peak and are currently in control of the price action.
A more aggressive investor would want to get in somewhere around $34 (30W MA) while an investor who feels they can take it or leave it with this stock would find the best entry at the bottom of the channel.
From the calculations I've seen (I have not double checked them myself), the dilution should only negatively impact the price about 4-6% which means the majority of the selling is being done by panic sellers and shorts. I would assume SPCE is finished with the dilution of shares and I believe we should see confirmation from them soon stating this as well.
I personally believe SPCE will one day return to the top of this channel but I have no inclination on when that will be. Since the top of the channel is an ascending trend line, the price target increases with time.
