SPCE Reversal Swing Trade
SPCE has been at current levels since the failed test flight in December. However, the engine failure did not result in any deaths and rather tested the safety features in a real use case. They have yet to announce another test flight but its expected within 1-2 months at most.
Price action has held the fib golden pocket and consolidated up to the ichimoku golden cloud on the daily chart. Eventually looking to fill the gap down at $31 as the first price target. Look to hold the $21-$22 zone as support.
Price action has held the fib golden pocket and consolidated up to the ichimoku golden cloud on the daily chart. Eventually looking to fill the gap down at $31 as the first price target. Look to hold the $21-$22 zone as support.
Comment:
Adding calls to stock position upon confirmed breakout tomorrow 1/8.
Trade active:
Sold Feb calls position at 220% profit
Holding 75% of shares position (32% profit)
Holding 75% of shares position (32% profit)