First of all let me start out by saying that I believe that Virgin Galactic is an amazing long-term investment company, it is first of it's kind and it is start a completely new industry of space travel. Short-term things are at a key descision point. We are moving on the 1 hour chart inside a small channel, that we are most likely going to hit it's resistance and from there on we will either bounce back to the bottom of the channel which will result to drop to around 20$ . This is where it is the best long-term buy price, where you will be good to go to buy and hold for the next few years and even longer to just enjoy the huge returns. Otherwise, if we break the channel and go above 27$, we should see the price to atleast 35$ which would be the hight of the Daily triangle. On that price we are again going to have to wait for the price to decide if it will leave the triangle and go to 60-70$ or it will not break the resistance at 35$ and it will retest once again the lows of the triangle to 22-23$ and then go for the 60-70$ price. Either way, this stock is an absolute gem right now and even at 25$, if you buy and hold it's an amazing position for the next 5-10 years and longer.
Trade active:
This is exactly what I wanted to see, a really strong break through the channel. Next stop is 35$ and when it get's there we have to look out if it will break the big triangle again.
Comment:
Ark just announced that SPCE will be a part of the a new Space ETF. Congratulations on the profit, SPCE is hitting 35$ for sure and I would say that with the fix of the ignition problem, SPCE is great long-term investment.
