SPCE Gains and Draw Downs from 200 DMA
SPCE has respected the 200 day moving average in the past very well and we're very near that mark today. SPCE did hit the 200 day moving average a couple days ago but that was in pre-market hours.
In this chart are the gains and draw downs from the 200 day moving average. Long terms investors may be looking to acquire shares at this level while shorts may be looking to exit.
In this chart are the gains and draw downs from the 200 day moving average. Long terms investors may be looking to acquire shares at this level while shorts may be looking to exit.
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A quick comment - The last draw down of 46% after falling below the 200 day MA was on the heels of very bad news where it became common belief that Virgin may not fly until 2022. I think it's safe to say the news / fundamentals of SPCE are much better now than during that period and Virgin has now proved they have a safe and operational vehicle.
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Here are two major trend lines on the weekly chart. One is a trend line that excludes the fud and one is with the fud.
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Here are the lengths of time SPCE spent below the 200 day MA. This may help manage expectations.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.
