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Mr_Galactic
Jul 13, 2021 3:27 PM

SPCE bound *update* Long

NYSE:SPCE60
Virgin Galactic Holdings, Inc.NYSE

Description

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Currently testing those key supports at the $35-$40 mark we talked about last week, as the pattern starts to complete itself.

Watching for confluence of indicators, which could be the sign of a trend reversal & a strong buy signal.

I love it when a plan comes together.
Trend AnalysisHarmonic PatternsFibonacci
Comments
Sam6577
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Any update on this?
Mr_Galactic
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@Sam6577 new chart will be up next week.

After breaking the $35 support, I’m keeping a close eye on the $30 mark for now.
MarvinRunyon
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Which indicators would you look for a confluence of?
Mr_Galactic
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@MarvinRunyon I like to use RSI, MACD, and sometimes ADX.

RSI tracks whether or not it’s overbought or oversold, and provides and idea for executions.

MACD tracks momentum or divergence, which is essentially letting you know if the trend is getting stronger or weakening.
Sebastianagalindo
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what price do you expect it to break in order to go into bullish reversal?
Mr_Galactic
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@Sebastianagalindo if we break the $30 support, we’re going for a ride down
alwaysgrow
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where do you see it being at by the end of this month?
Mr_Galactic
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@alwaysgrow right now we’re fighting the $30 support. If we dip under it, I suspect we will see the lower twenties going into august.

The next support would be approximately the $23 range.
alwaysgrow
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@Mr_Galactic, what's the highest you think it'll reach this year?
Mr_Galactic
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Based off pure speculation, I imagine we will see $60, but I wouldn’t expect it to break the $80 mark this year.
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