After a successful test flight, Virgin Galactic shares went up. But, if you look at these stocks through the Elliott Wave Principle, this growth was likely.
From February 2020 to May 2021, wave (2) of unfolded in the form of a running flat. Wave (2) corrected wave (1) at 0.786 Fibonacci. After completing the correction, the price began to rise from $14.27 to $35.04. It is possible that the wave 1 of (3) of has not yet been completed, which means that it is quite likely that the local maximum of $35.04 will be updated.
In the future, I expect to see a correction in SPCE shares, followed by a strong growth. I can calculate the possible end of the wave (3):
wave (3) = 1.618 wave (1) at $71.85
wave (3) = 2.618 wave (1) at $107.44
wave (3) = 4.236 wave (1) at $165.03
I think that SPCE shares have a high potential for growth.
From February 2020 to May 2021, wave (2) of unfolded in the form of a running flat. Wave (2) corrected wave (1) at 0.786 Fibonacci. After completing the correction, the price began to rise from $14.27 to $35.04. It is possible that the wave 1 of (3) of has not yet been completed, which means that it is quite likely that the local maximum of $35.04 will be updated.
In the future, I expect to see a correction in SPCE shares, followed by a strong growth. I can calculate the possible end of the wave (3):
wave (3) = 1.618 wave (1) at $71.85
wave (3) = 2.618 wave (1) at $107.44
wave (3) = 4.236 wave (1) at $165.03
I think that SPCE shares have a high potential for growth.
A month has passed since the publication of the forecast and it's time to describe the current situation. Having reached the high at 57.51$, the price began to fall. I consider this fall as the beginning of the development of the corrective wave of 2. Wave 2 usually takes the form of a zigzag.