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Virgin Galactic (SPCE) Continues to Roll Over

Written By: ClearValue Investing

September 25, 2023

This is a follow-up post to my previous SPCE update. SPCE bounced off the yellow support line but continued to roll over as the S&P continued to bleed. The Sept FOMC announcement resulted in bearish market sentiment for crypto and stocks that led to further decline. For now I’m monitoring SPCE to form a more convincing reversal. If SPCE does not touch the yellow trendline on this move down then it will be a bullish sign. I think the upside has been delayed until Q4, which is something that I’ve been saying in Discord over the past few weeks. My plan is to patiently wait for SPCE to move back up to the buy zone ($3-$3.50 marked by a red flag).

TradingView Chart:
https://www.tradingview.com/chart/SPCE/lZB8NsXO-Virgin-Galactic-SPCE-Continues-to-Roll-Over/

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