Let's see! Weekly charts shows that we are right at the trendline and the bounce we saw today could be a bull run continuation signal. But, on daily we can adjust the trendline and argue that price has not bottomed yet and has another 7% to drop before any real reversal. For a reversal to happen, we need to follow the volume profile drawn on the daily chart for the bearish trendline to breakout with sufficient support. On daily you can also see the volume for Friday's sell-off, which is relatively larger than any other day in the past two months. That could be interpreted as the selling climax for our bullish scenario.
Bullish Indicators:
Bounce off of Weekly trendline
Daily RSI near 30
Weekly chart shows similar volume changes in the past that lead to a new bull run
Bearish Indicators:
MACD cross down
Daily trendline points to another 7% drop
There is no near term catalyst for Virgin Galactic