United

Million

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>NYSE: SPCE lost 4.14% of its trading price on the August 10 trading session.&nbsp;</a> </li> 
 <li> <span>2</span> <a>SPCE stock lost 17.35% and 14.06% in the weekly and monthly time frames.&nbsp;</a> </li> 
 <li> <span>3</span> <a>On August 1, 2023, Virgin Galactic Holdings, Inc. reported 25.85% less (than expected) revenue in Q2 2023.&nbsp;</a> </li> 
</ul> 
<p>NYSE: SPCE lost 4.14% of its trading price on the August 10 trading session. It opened at $3.46, lowering to $3.23 it hit a high of $3.51 and closed trading at $3.24 with an intraday trading volume of 24.51 Million.&nbsp;</p> 
<p>In the 52 weeks trading session, SPCE stock’s highest traded price was $7.33, and its lowest trading price was $2.98. Virgin Galactic Holdings, Inc.’s share was trading 38.12% below its annual price target of $4.47 at press time.</p> 
<p>Virgin Galactic Holdings, Inc.’s market capitalization is $1.19 Billion, average trading volume is 18.99 Million. SPCE stock opened 0.77% higher than its last closing price in the pre-market trading session.</p> 
<p>In the weekly and monthly time frame, SPCE stock lost 17.35% and 14.06%, respectively. After analyzing the candlestick patterns across multiple time frames, the stock is slipping steadily.</p> 
<h2 class="wp-block-heading" id="strong-nyse-spce-stock-price-analysis-strong"><strong>NYSE: SPCE Stock Price Analysis&nbsp;</strong></h2> 
<p>In the past two trading sessions, sellers seem more aggressive than buyers, who are constantly pulling down the SPCE stock. Under sustained selling pressure, the price might register a fresh 52-week low at the end of the coming week.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/gidFVhDIlGDCTJL7loHfO9QElXLEQc5i10HACw4L_Rnb01lBGuksfK3S8J0WFrGxgaXvhVUTQajx4iLYA_-9oSrj2LkWMgUhOeo4RZsoEoqlIT-vDw-3YWDFhEV05o3P513wTzhepDuPH5IDzUZmww" alt="SPCE Stock Lost 4.14% on August 10; Could Open Above Closing?"> 
  <figcaption class="wp-element-caption">
    Source: SPCE stock price chart from TradingView&nbsp; 
  </figcaption> 
 </figure> 
</div> 
<p>Buyers are trying hard to sustain their position, but extreme selling pressure is troubling the bulls. After analyzing the technical aspects of SPCE stock, it is noted that if buyers succeed in taking control, then the price might face immediate resistance of $4.03 and following possible resistance of $4.89.</p> 
<p>After Q2 2023 earnings release, SPCE stock price slipped 4.35% intraday but buying volume surged. On the last day of July 2023, the stock climbled toward $5, but failed to sustain there and lost 3.27% on August 1st.</p> 
<h3 class="wp-block-heading" id="strong-virgin-galactic-holdings-inc-earnings-revenue-strong"><strong>Virgin Galactic Holdings, Inc Earnings &amp; Revenue&nbsp;</strong></h3> 
<p>On August 1, 2023, <a href="https://www.thecoinrepublic.com/2023/07/30/virgin-galactic-stock-beware-of-a-short-squeeze-in-spce-stock/" rel="noopener noreferrer nofollow">Virgin Galactic Holdings</a>, Inc. reported 25.85% less revenue in Q2 2023. However, in Q1, reported revenue was 63.14% less than the estimated value.&nbsp;</p> 
<p>In Q3 and Q4 2023, the company is supposed to report $1.76 Million and $2.72 Million, respectively. Earnings per share (EPS) reflected a decline of 9.62% in Q1, but in Q2, EPS surged over 9.40%.&nbsp;</p> 
<p>According to TradingView, 321.056 Million SPCE shares are free-floating, and the remaining 46.081 Million shares are closely held by the company’s financial backers or the board of directors.&nbsp;</p> 
<p>In the financial year, 2022 reported revenue of Virgin Galactic Holdings, Inc. was $2.34 Million, which constitutes -462% of gross profit, -21146% of earnings before interest, taxes, depreciation, and amortization (EBITDA), -21626% of earnings before interest and taxes (EBIT), and net income of -21633%.</p> 
<p>Most of the company’s revenue is generated from the aerospace business and is headquartered in the United States.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Resistance Level: $4.03 &amp; $4.89</p> 
<p>Support Level: $3.00</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Recent bearishness in the company’s stock price is likely to turn around. By the end of the upcoming week, SPCE stock might face immediate resistance of $4.03.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer:&nbsp;</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

SPCE Stock Lost 4.14% on August 10; Could Open Above Closing?

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Thecoinrepublic.com

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