SPCE Swing Long For Aug 10 Space Launch
This SPCE long trade is centered around the second commercial space launch on Aug 10. SPCE had a successful first launch in June of 2023, and there is optimism that this launch will also go well.
Initially my plan was to buy in the buy zone between $3 and $3.50, but SPCE was struggling to drop lower. I readjusted my range to $3.68 to $3.72.
These target prices are time sensitive because there could be a drop near the Aug 10 launch date.
Last time there was a long 3 day candle up and I’m looking for a similar scenario here.
Target Price
TP 1
The red resistance line is my first price target at $5.75
TP 2
The white resistance line is my second price target at an estimated price of $6. The price could overshoot with a successful launch or strong earnings report.
Initially my plan was to buy in the buy zone between $3 and $3.50, but SPCE was struggling to drop lower. I readjusted my range to $3.68 to $3.72.
These target prices are time sensitive because there could be a drop near the Aug 10 launch date.
Last time there was a long 3 day candle up and I’m looking for a similar scenario here.
Target Price
TP 1
The red resistance line is my first price target at $5.75
TP 2
The white resistance line is my second price target at an estimated price of $6. The price could overshoot with a successful launch or strong earnings report.
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Join my exclusive Discord community for swing trading, options trading, and long-term investing.
There is a free trial period for the group
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