SPCE is losing money for 4 consecutive quarters showing that it is fundamentally
a losing proposition, perhaps destined for bankruptcy or alternatively share dilution
to raise cash which would prejudice present shareholders. Perhaps these scenarios
are baked into the price.
On the 4H chart the long downtrend dating back 2 years has continued. After
the turn...
SPCE ran up on exuberance on the mention of ARKX and was rejected at the double top. It needs to cool off and refuel. Gap fill likely, short with tight stop loss.
Markets look troubling for coming week.
PT: 27.6, 25
Buy order: 21
Bullish long-term.
SPCE seems to be consolidating in the @16-17 range. I would wait for a break and hold above @18.20 before going long.
Watch for a pullback to @17.30-17.40 for a safe entry for a conservative target @18.00-18.30. Above that and we'll find my ideal price target @19.10 then @20.00
On the downside if SPCE breaks under @16.70, we'll find minor support @15.80 then...
Hangin on by it's fingernails right now. Not even all the hype today could save them.
I haven't been trading very long but I'm guessing the 10, 50, 100, 200 SMAs all running simultaneously into a giant wedge pattern where the price just broke below channel support and is barely clinging to long term support is spectacularly bearish. Bust out the popcorn...
My first SPCE idea is holding up great so far, still heading to $12 here, so wanted to dive in and pick out some nuance.
Check out those RSI and MACD trends, I wouldn't buy until we clearly breakout of these.
Slide should continue. Ideally we'd touch the RSI 30 and have one more MACD lower bound retest before buying.
Lets hope for some good luck here! The...
![SPCE: [SPCE] Super Wedge Short Setup... Heading to $12?](https://s3.tradingview.com/f/fEETHHly_mid.png "[SPCE] Super Wedge Short Setup... Heading to $12?")
![SPCE: [SPCE] Strong MACD and RSI Downward Trend Channels.. Wait for It](https://s3.tradingview.com/r/RgmhQTgT_mid.png "[SPCE] Strong MACD and RSI Downward Trend Channels.. Wait for It")