$SPCE Falling wedge since April 2022
On weekly charts - Looks like a falling wedge for almost 2 years, bouncing off the descending trend lines relatively accurately.
Earnings report drops next week. I predict a pullback to around 1.70, followed by a rocket up to 2. What would be key is if SPCE can break and hold above 2 to begin the launch sequence back up to 3, 4, 30, 40, eventually. Otherwise, if 2 is rejected, simply based on the trendlines we can see it drop very low below a dollar. Hard support level is around 1.40ish where ATL is. If that breaks... well keep buying anyway.
I personally want to read their 10k as well, which should be coming out soon. I think a turnaround is brewing for SPCE - Bullish
Earnings report drops next week. I predict a pullback to around 1.70, followed by a rocket up to 2. What would be key is if SPCE can break and hold above 2 to begin the launch sequence back up to 3, 4, 30, 40, eventually. Otherwise, if 2 is rejected, simply based on the trendlines we can see it drop very low below a dollar. Hard support level is around 1.40ish where ATL is. If that breaks... well keep buying anyway.
I personally want to read their 10k as well, which should be coming out soon. I think a turnaround is brewing for SPCE - Bullish
Comment:
RIP
SPCE
- Finding support at ATL's but broke down unfortunately. Price floor is .30 (bottom of the weekly wedge).
Oh well
SPCE
- Finding support at ATL's but broke down unfortunately. Price floor is .30 (bottom of the weekly wedge). Oh well
Fundamentally though, these earnings show a significant improvement in their operations and efforts to begin lowering OpEx.
Generally still neutral, but wouldn't hurt to start DCAing into it. I will begin the DCA process