MannyLo

SPACE - $SPCE Ready For Takeoff

Long
MannyLo Updated   
NYSE:SPCE   Virgin Galactic Holdings, Inc.
Going with an aggressive approach on this one, but $SPCE looks ready for liftoff at the moment. Currently have the stoploss set at 10%, but if we drop 5% from the current levels we're looking at picking up more. Looking for a +50% on this on this one if we can break through $30 level. We've been stacking between the $23-$27 range. Going with pure TA on this one and haven't really focused on any fundamentals at the moment. If we can break a 15-20% return we'll adjust our stoploss to secure profits.

Cheers!

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Comment:
FAA has grounded the company's spacecraft. The Federal Aviation Administration opened a probe into Virgin Galactic's flight on July 11 for veering off its projected flight path during descent. The flight included two pilots, three crew members and founder Richard Branson. "Virgin Galactic may not return the SpaceShipTwo vehicle to flight until the FAA approves the final mishap investigation report or determines the issues related to the mishap do not affect public safety,"- CNBC
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