Virgin Galactic Holdings (SPCE) June 2023 (Paid Version With Best Trades)

Kapproveb Alcyone
Apr 29, 2023
3 min read

Updated: Jun 4, 2023

Month’s Theme: A significant rally on a one year scale. That’s crossed with a period of volatility followed by a fast, sudden move higher.

Behavior Around the High: A failed attempt to break through key resistance followed by a decline through key support.

Behavior Around the Low: A fast, sudden move higher out of the low.

Exclusive Trade Opportunities for Subscribers:
- An opportunity to open a long position for a swing trade on the 1st. I would close that on the 7th or the 8th.
- An opportunity to open a short position on the 6th and close it on the 7th.
- An opportunity to open a short position on the 8th and close it on the 20th when we hit the bottom of a range.
- An opportunity to open a short position on the 14th and close it toward the end of the day on the 15th.
- An opportunity to open positions in both directions on the 26th. I would close the short position at the end of the day and close the long position the following day.

Overview

On the 1st, there’s a prominent move higher and a full retracement of that move on the 2nd into a trough.

On the 5th, there’s a notable reversal. On the 6th, there’s a period of bumping along resistance. There’s a lot of price change to the downside on the 7th. Out of a low at the end of the day, there’s a big move to the upside. There’s a rally on the 8th into a crest or peak. This is likely where the highest high is. On the 9th, there’s a U-shaped dip that forms near the intersection of two perpendicular diagonal trend lines.

We’ll probably gap down on the 12th. We’ll have a rally in the morning taking us to an important resistance level on a one-month scale. That resistance level is highlighted on both the 12th and the 13th. After three pokes through the same price level, there’s a sharp drop to a day’s low and a prominent trough at the end of the day on the 13th. On the 14th, we’ll slightly decline and then there’s a big move to the upside toward the end of the day. There’s a crest on the morning of the 15th that we’ll sell off from through multiple support levels. On the 16th, there’s a prominent trough that we’ll rally out of along a diagonal trend line.

On the 20th, an important range is highlighted. On the 21st, there’s a big move from the bottom of a range to the top of a range. This may be a lowest low, but there’s a peak or crest toward the end of the day. There are three crisscrosses through the same price level on the 22nd and we’ll probably gap down overnight. There’s a bit of a rally, but that comes to an end with a notable decline on the 23rd. There’s a gap up over the weekend.

We’ll meet an important resistance level and gap up with a lot of price change between the 26th and 27th. A period of volatility ends with a fast, sudden move higher on the 27th. That move to the upside will take us to a key resistance level. On the 28th, we’ll decline to and through support to meet a secondary support level. We’ll rotate along support into the 29th where we’ll have a big move to the upside that pushes the upper end of a range higher. We may have a gap up on the 30th with an important high highlighted. We’ll decline off of that high through multiple support levels.