1SPCE trade ideas
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.
FROGS IN BOILING WATER I'm assuming you know where I'm going with this ..
Here is a list of 50 top shorted stocks on the market as of today afterhours . 1/28/21
Ticker Company Exchange> ShortIntrest Float Outstd Industry
GME GameStop Corp. NYSE 138.08% 51.56M 69.75M Retail (Technology)
SPCE Virgin Galactic Holdings Inc NYSE 81.53% 53.65M 195.59M Investment Holding Companies
AMC AMC Entertainment Holdings Inc NYSE 68.93% 56.57M 108.90M Motion Pictures
BBBY Bed Bath & Beyond Inc. Nasdaq 66.62% 114.36M 126.01M Retail (Specialty Non-Apparel)
LGND Ligand Pharmaceuticals Inc. Nasdaq 64.24% 15.43M 16.08M Biotechnology & Drugs
FIZZ National Beverage Corp. Nasdaq 62.52% 11.65M 46.65M Non-Alcoholic Beverages
FUBO Fubotv Inc NYSE 62.15% 54.47M 67.56M Online Services
SPWR SunPower Corporation Nasdaq 53.57% 80.92M 170.16M Semiconductors
SKT Tanger Factory Outlet Centers NYSE 49.70% 90.14M 93.47M Real Estate Operations
AXDX Accelerate Diagnostics Inc Nasdaq 46.26% 29.75M 57.03M Scientific & Technical Instruments
TR Tootsie Roll Industries, Inc. NYSE 45.85% 16.11M 39.34M Food Processing
GOGO Gogo Inc Nasdaq 44.59% 40.46M 85.25M Communications Services
CLVS Clovis Oncology Inc Nasdaq 42.80% 85.73M 88.20M Biotechnology & Drugs
OTRK Ontrak, Inc. Nasdaq 42.24% 7.41M 17.42M Healthcare Facilities
GSX GSX Techedu Inc NYSE 41.96% 128.62M 128.69M Personal Services
PRTS Carparts.Com Inc Nasdaq 40.19% 37.11M 47.93M Retailers - Auto Vehicles, Parts & Service
SRG Seritage Growth Properties NYSE 39.97% 34.27M 38.64M Real Estate Operations
SENS Senseonics Holdings Inc AMEX 38.78% 95.35M 245.67M Medical Equipment & Supplies
IRBT iRobot Corporation Nasdaq 37.40% 27.43M 28.13M Electronic Equipment & Parts
RVP Retractable Technologies, Inc. AMEX 35.59% 12.77M 33.82M Medical Equipment, Supplies & Distribution
PGEN Precigen, Inc Nasdaq 35.42% 69.42M 178.60M Biotechnology & Medical Research
RKT Rocket Companies Inc NYSE 34.85% 102.38M 100.37M Consumer Lending
DDS Dillard's, Inc. NYSE 34.63% 12.83M 18.37M Retail (Department & Discount)
PETS Petmed Express Inc Nasdaq 34.36% 19.50M 20.27M Retail (Drugs)
INO Inovio Pharmaceuticals Inc Nasdaq 33.80% 166.10M 169.41M Biotechnology & Medical Research
SFIX Stitch Fix Inc Nasdaq 33.57% 59.03M 62.90M Online Services
SRNE Sorrento Therapeutics Inc Nasdaq 32.42% 227.00M 262.94M Biotechnology & Medical Research
WKHS Workhorse Group Inc Nasdaq 31.76% 109.42M 120.53M Auto & Truck Manufacturers
RUBY Rubius Therapeutics Inc Nasdaq 31.69% 32.55M 80.92M Biotechnology & Medical Research
REV Revlon Inc NYSE 31.65% 6.81M 53.33M Personal & Household Products
EBIX Ebix, Inc. Nasdaq 29.62% 25.35M 30.96M Computer Networks
MIK Michaels Companies Inc Nasdaq 29.57% 83.36M 147.65M Retail (Specialty Non-Apparel)
JWN Nordstrom, Inc. NYSE 28.97% 109.23M 157.68M Retailers - Department Stores
SDC SmileDirectClub Inc Nasdaq 28.78% 93.13M 113.55M Medical Equipment, Supplies & Distribution
OPK Opko Health Inc. Nasdaq 28.47% 404.72M 670.00M Biotechnology & Drugs
LAZR Luminar Technologies Inc Nasdaq 28.09% 34.38M 218.82M Electronic Equipment & Parts
DDD 3D Systems Corporation NYSE 27.95% 119.69M 124.14M Computer Peripherals
CVM CEL-SCI Corporation AMEX 27.89% 38.09M 39.76M Biotechnology & Medical Research
LOVE Lovesac Co Nasdaq 27.51% 10.44M 14.68M Home Furnishings
MDGL Madrigal Pharmaceuticals Inc Nasdaq 27.16% 10.10M 15.44M Biotechnology & Medical Research
KNDI Kandi Technologies Group Inc Nasdaq 27.02% 57.89M 72.38M Auto & Truck Manufacturers
SCVL Shoe Carnival, Inc. Nasdaq 26.71% 8.61M 14.10M Retailers - Apparel & Accessories
CAKE Cheesecake Factory Inc Nasdaq 26.60% 42.08M 45.58M Restaurants
ICPT Intercept Pharmaceuticals Inc Nasdaq 26.50% 27.66M 32.99M Biotechnology & Medical Research
RVLV Revolve Group Inc NYSE 26.38% 25.54M 25.75M Retailers - Department Stores
BLNK Blink Charging Co Nasdaq 26.00% 33.62M 35.95M Utilities - Electric
CVNA Carvana Co NYSE 25.67% 68.67M 69.43M Retail (Specialty Non-Apparel)
LCI Lannett Company, Inc. NYSE 25.65% 31.40M 41.70M Biotechnology & Drugs
RXT Rackspace Technology, Inc. Nasdaq 25.45% 34.29M 200.29M IT Services & Consulting
APT Alpha Pro Tech, Ltd. AMEX 25.40% 11.53M 13.58M Medical Equipment, Supplies & Distribution
Play smart .
Thumbs up are appreciated .
Cheers see you next time .
SPCE - These are our chosen paths....which one will it beI think we have already been shorted enough...I see a solid base at $41 but I think in the day or days to come these are the paths we will take. GL!
