SPCE trade ideas
SPCE first stop the MOONits the second most shorted stock show them what we are made of!
Ascending triangle has a 73% chance of happening.
What more do need?
TLDR;
SPCE goes mewn now
Potential Cup and Handle long opportunity on SPCEPotential Cup and Handle pattern formed on 1h SPCE chart with day closing at what seems to be the bottom of the handle. Possible bullish divergence forming on MACD (higher levels of negative momentum while price makes a higher low) and the fact that the price found support at minor trendline seem to add to the bullish argument. Smaller timeframes are typically less reliable for indicators like that but the overall trend on this stock is currently extremely bullish, hence the bias.
As far as price history is concerned we are in uncharted territory above ATH so we only have Fibonacci Retracement levels to guide us - using discernible swing high from December 9th and discernible low from January 5th we can see that resistance at $58.2 is actually a 2.618 Fib. level with 2 more price targets above at $71.8 (3.618) and $80.2 (5.236). What's worth noting is that SPCE tends to rally leading up to major events (December rally up until the test flight date) so it would seem logical to expect similar run leading up to newly announced February 13th launch. With more major news on the horizon (including Earnings Call on February 25th and those tend to be used by the company to make major announcements + completion of 2nd spaceship also rumored to happen in February), the short-term fundamentals remain bullish as well.
Long-term prospects will depend on multiple factors that have been discussed a lot before and TA seems to be helpless here as it tends to be with other growth stocks like TSLA but I believe that this year will be big for Virgin Galactic with ARKX launch, test flights, hopeful FFA approvals and Richard Branson flight and more. I expect space to be a major theme this year and recent successes of SPCE spin-off company Virgin Orbit might also positively impact price action through proxy. Not a financial advice as always do your own research.
Refueling for the moon mission or coming back down to Earth?SPCE is on the basis of the Bolinger Bands on the 4hr.
Potentially hitting support of a trendline on the 2hr.
Possibility of going towards the lower band on the 1hr.
BTFD? Not sure yet. SPCE was in the range of $20-$25 at the start of January.
Trying to buy in around $44-$46
SPCE Long +39% TargetSome thoughts on further SPCE price dynamics within 1-2 next weeks.
SPCE will continue the upward movement till 60$ with a futher possible retracement to build up a C&H pattern with a next target around 68$. Closer to earnings we might see a price reversal or a breakout to new highs.
SPCE - Don't be scared of the pullbackThis is just a normal pullback, so don't panic Sell. We are going to break through the triangle and rise to 90$-100$
SPCE - if you took puts near market open - keep your profitThe trade idea is linked. What a move down today, more than I expected. One important point - I bought 2/12 40 strike puts yesterday and today my option price did not increase much at all because VIX fell so much.
If you took weekly puts on this today, you should have taken trimmed or closed out already. If your objective was a day trade, then be happy with an amazing return and do not look back on missed profit (if any).
If VIX rises again in the next few days then swing puts will rise in price. I have 46, 42 as price targets.
$SPCE Virgin Galactic $76.00 Target
As the short squeeze continues we must look at much higher level in the stock as a potential target.
We have set out levels of Fibonacci confluence at $64 & $76 where the channel and expansion levels collide.
The afterhours announcement from SpaceX has also added fuel to the rally.
Care is needed as the stock is overbought so watch for reversals as the RSI hits 90.
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update on cup and handle prediction I posted last weekI posted on this last week. I is really looking like a nice cup and handle is forming. With the great news out today and with the high volume and anticipation I think we are going to continue to trend upwards with pullbacks along the way. By Febuary we could be looking at $70/share.
SPCE Possibly $61 by 2FebElliot waves create a possible $61 on SPCE by 2 Feb if it plays as I hope it does.
Will SPCE drop before test flight on 13 Feb.? Swing Put tradeThe indicators point to buyer exhaustion, hence a pullback in price before Virgin Galactic makes its test flight.
Price action shows a 5-wave pattern (white zig zag line)
RSI corresponds to this with three peaks in overbought territory
TTM squeeze is high and we can expect some gray bars as momentum eases
If you buy 2/12 or 2/19 puts you have time for selling to occur. I am looking for 46 and 44-42.50 as profit targets. The test flight is on a weekend, and I am not holding puts past the 12th. If price action and indicators do not support this idea on Tuesday (2 Feb) then exit or trim position so you are comfortable holding.
Look for a good entry on 2 Feb.
$SPCE #SPCE #VirginGalactic im long since 18 dollars per share still is a speculative play so far but I believe this company for the future.
$SPCE short runs prices up to $70 to $80 target before Feb. end.We are on a logarithmic growth pattern with $SPCE. Great prospects, rumors of test flights, and incredible meme value. Plus any heavily shorted stock is under attack by retail right now.
However, unless this thing picks up mainstream appeal, like $GME levels, it's got to retreat at some point. Therefore I'm into some Jan 2023 calls, but only plan to hold them until the end of Feb, unless the momentum on social media of the stock changes. At that point I think it has to retreat to the logarithmic trend line for a while before it continues growing (ie being acquired by someone large).
SPCE Day Trade Idea 1/29/21This could easily head lower if there is more weakness with the meme stocks. However, I feel like they might come back and do the same thing and rip all these stocks. If that does going long where the price is at now wouldn't be too bad. Will have to watch out for how much premium I am paying if I do decide to trade this. I know I shouldn't trade daily expiration but this might be a good opportunity. I need to go cheap if I do; no need to wreck this week's gains for another risky bet.
SPCE - cup and handleI think we are seeing the formation of a cup and handle. I believe we will retest 60. Not bad for a boiling frog! ;) Good Luck!
SPCE - Breaking through the TriangleHello everyone,
We are moving inside a triangle and the price is sitting on a huge support line. I would say that most probable scenario would be for us to break to the upside and reach 65$-70$.
- If we break through with high volume, then the trading idea is Active
- If we break bellow the support, I expect us to hit 30$-25$
As I said, I am expecting a shart rise to 70$. The smartest thing to do would be to wait for a confirmation of the direction and follow the movement.
