Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Virgin Galactic stock price (NYSE: SPCE) is trading near its 52-week low.</a> </li> 
 <li> <span>2</span> <a>SPCE stock is trying to climb above the 50-day EMA to reverse the short-term trend.</a> </li> 
 <li> <span>3</span> <a>Virgin Galactic Holdings is expected to release its quarterly earnings on August 1, 2023.</a> </li> 
</ul> 
<p>Virgin Galactic stock (NYSE: SPCE) seems to be stuck in the narrow range consolidation between $3.00 to $5.00. However, sudden speculative moves are visible in the past but buyers failed to hold the higher levels.&nbsp;</p> 
<p>SPCE stock price struggles to climb above the 50-day EMA showcase the trend is down. The 200-day EMA slopes down also indicate that the positional trend is down. It is likely to act as a strong hurdle for bulls.&nbsp;</p> 
<p>In June, Virgin Galactic<a href="https://www.thecoinrepublic.com/2023/05/01/virgin-galactic-stock-keep-spce-stock-on-radar-earnings-ahead/" target="_blank" rel="noopener noreferrer nofollow"> stock </a>showed a massive gap up and buyers attempted to break out of the $6.00 hurdle. At the same time, a sudden rise in the volume is also visible. However, the attempts failed and ended up as a bull trap.</p> 
<p>SPCE stock faced sharp rejection from $6.00 and prices collapsed down. It eroded the short-term gains and prices returned back to the previous range. The downfall in the stock halted near $3.50 and entered into consolidation.&nbsp;</p> 
<p>Virgin Galactic <a href="https://www.thecoinrepublic.com/2023/05/01/virgin-galactic-stock-keep-spce-stock-on-radar-earnings-ahead/" target="_blank" rel="noopener noreferrer nofollow">Stock price </a>(NYSE: SPCE) closed the previous session at $3.93 with an intraday rise of 4.80%. The market capitalization stands at $1.11 Billion.</p> 
<h2 class="wp-block-heading" id="strong-virgin-galactic-stock-short-squeeze-possible-after-earnings-strong"><strong>Virgin Galactic Stock: Short squeeze possible after earnings</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/bqLtzwdGMovH_muuIxWs3JhCAk8CVowq0Qu-uImxpK65evBTWp4PWx9qZEHETknEoKHrrQvsSupmA7ZmWPMK3RLuJUOVNPWPiCN_GTQq3KOl1ZAC8g5OzKBnzYbHMdlpnb60gMaJlK-BpWJrVUkVfA" alt="Virgin Galactic Stock: Beware of a Short Squeeze in SPCE Stock"> 
  <figcaption class="wp-element-caption">
    NYSE: SPCE daily chart by <a href="https://www.tradingview.com/x/d6IofIBA/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Virgin Galactic stock (NYSE: SPCE) is inside the bear grip. The short-term up move is not sustaining on higher levels. It shows the sellers’ dominance in the supply zone.&nbsp;</p> 
<p>However, the quarterly earnings are scheduled for next week due to which the risk of a short squeeze remains high.&nbsp;</p> 
<p>Virgin Galactic Holdings will release the quarterly earnings on August 1, 2023. Market analysts estimate an EPS of -0.508 and revenue of $2.523 Million. If the company met the EPS or revenue estimates then the possibility of a short squeeze will increase.&nbsp;</p> 
<p>However, if the company disappoints then also a sharp up-move or down-move is expected.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-spce-stock-price-is-highly-volatile-strong"><strong>SPCE Stock price is highly volatile</strong></h3> 
<p>SPCE stock price is volatile and speculators are highly active. Therefore, till the prices trade below $6.00 the<a href="https://www.thecoinrepublic.com/2023/05/01/virgin-galactic-stock-keep-spce-stock-on-radar-earnings-ahead/" rel="noopener noreferrer nofollow"> stock </a>will remain bearish. Short-term relief rallies will face difficulty to hold the higher levels.&nbsp;</p> 
<p>The MACD curve is reversing upward and might display a positive crossover in the short term. The RSI at 49 denotes neutral territory and a balance between buyers and sellers.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Virgin Galactic stock (NYSE: SPCE) prepares to react in quarterly earnings. SPCE stock is near to the 52 low and sellers are highly active. However, any positive news in earnings will increase the possibility of triggering a short squeeze.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li><strong>Resistance levels:</strong> $5.00 and $6.00</li> 
 <li><strong>Support levels</strong>: $3.50 and $3.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Virgin Galactic Stock: Beware of a Short Squeeze in SPCE Stock

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