SPCE 3 month trend channel breakout +10% todaySPCE is up +10% today, breaking out of it's 3 month trend channel. I entered a SPCE$30-31strangle12/11 at 11am when it was at equilibrium $30.50. I have traded SPCE a lot and a word of caution here, it is a very volatile stock. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny for a month it = $5,368,709. Good luck and happy trading friends...
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4SPCE trade ideas
Cup and Handleall time high is 42.49..Caution: overbought on daily rsi set at 80 and 20/9 day moving average..not OB on monthly or weekly yet..
Hammer on monthly and weekly..
Possible stop below HL/handle low or mid cup which is 21.20
Not a recommendation
NV (volume on down days) and PV (Volume on up days) are both high as is OBV..
No RWs in yearly chart..
Short interest is very high...36% or more depending on where you look..seems the shorties are counting on this going down
$SPCE Big catalyst friday, 11/12 29C @1,40$ @SPCE
- 29,57$ is the resistance in the intraday.
- With a big catalyst coming up on friday, volume will be at rendez-vous we'll see.
- 1st entry : a break above that previous fractals at 29,22$
- Safe entry : 29,60$ break
- Afetermarket : 28,90$ up .56%
- Looking at 11/12 29C @1,40$
- SL at ,40$
This could be a chicken dinner for early christmas.
- Cloas above MA20 (bullish)
SPCE: ALL SUPPORTS AND RESISTANCESNYSE:SPCE
Here is the chart showing all Fibonacci levels .
What now?
Three different scenarios:
-1. consolidation at the current level, and bullish continuation to 40 in a few days.
-2. Immediate bullish continuation.
-3. We pull back to retest the orange line.
From a technical point of view, my opinion is that we will retest the orange line before going higher.
From a fundamental perspective, December is a bullish month for stocks and SPCE could announce the date of its test flight very soon, which would send the stock to the moon.
What's your favorite scenario?
Buy The Dip - SPCE Delayed flight due to "Covid" presents another buying opportunity for SPCE, one of my favorite tickers to swing. I'm looking at another entry around 19.5 - 19.3 and should it break down past that, I'd look to buy more in the $17 range.
Currently no position but keeping cash on the sidelines for this and a few other plays in the near term.
With the positive news regarding vaccines - I'm just waiting for Covid Cases to subside slightly (may not happen soon) to give me a little more confidence NM pulls back on some of the restrictions.
Have a feeling we are going to see a dip / trade sideways for a little but the intrinsic value I believe SPCE holds is something that shouldn't go unnoticed.
GLTA
SPCE Life is probably better in Space...The wealthy Might need to go to space to make up for all the traveling they missed can't see this doing bad even in a economic downturn the rich have even more money now then before Covid. Like The Cup and Hope for A consolidation Reset to Form handle Then Break with Enough Power to get Through the Resistance on volume.. Depth of cup is about 7.50 so look for a move up to the 30's