The bottom may be in for Virgin Galactic (SPCE). As you can see, SPCE has bounced from this trend line 5 other times in the past. There was one instance where it broke beneath this line with force but the catalyst was based on false news (rumor that flights were grounded until 2022).
For investors and traders alike, this may be a great entry. There is still a possibility that we may drop as low as the red line, but as you can see, the purple line that it's currently resting on is much more influential.
This is a memestonk. It won't go up with so many bad news.
ttrending
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@y01004750, In my opinion the FAA investigation as well as the faulty part that delayed the flight should both be temporary. It may go sideways around this line before pushing up with a favorable news catalyst.
ydah
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@ttrending, Yea I think it will spike up anywhere between $5 and $10 before you even know it.