40 year old Virgin Galactic trendline
I've stayed away from this stock mainly because of it's horrible financials and have seen this
trend line (pictured) hold up many times now. I am banking on that again as we are off the highs
quite a bit (nearly 70% decline). Also, we are in a falling wedge that is meeting that trend line.
This adds extra sauce to this play for me.. I am a swing trader/investor and a fib guy. I have
labeled as well a 618 retrace ($16) of the entire stock as a possibility of low in case the trend line
breaks. Happy trading. Pure technical play.
trend line (pictured) hold up many times now. I am banking on that again as we are off the highs
quite a bit (nearly 70% decline). Also, we are in a falling wedge that is meeting that trend line.
This adds extra sauce to this play for me.. I am a swing trader/investor and a fib guy. I have
labeled as well a 618 retrace ($16) of the entire stock as a possibility of low in case the trend line
breaks. Happy trading. Pure technical play.
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