Resistance

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Virgin Galactic Stock price (NYSE: SPCE) hits a fresh 52-week low.</a> </li> 
 <li> <span>2</span> <a>SPCE stock price faced rejection from the 50-day EMA.</a> </li> 
 <li> <span>3</span> <a>Virgin Galactic Holdings beat the EPS estimate but missed the revenue estimate.</a> </li> 
</ul> 
<p>Virgin Galactic stock price (NYSE: SPCE) fell 34% in the current month after the release of quarterly earnings. SPCE stock formed a bearish pattern and hit a 52-week low at $2.62.&nbsp;</p> 
<p>SPCE stock has fallen for the past 11 consecutive days which shows that investors had lost confidence. It seems like investors are taking an exit from the higher levels due to the fear of more sell-off.&nbsp;</p> 
<p>Virgin Galactic stock price is trading below the 200-day EMA showcasing a strong downtrend. Recently, before the release of earnings, SPCE shares attempted to climb above the 50-day EMA. Sadly, it faced sharp rejection and prices reverted down.&nbsp;</p> 
<p>In the past few months, SPCE stock tried multiple times to break the $5.00 hurdle but prices got rejected. It shows the presence as well as the dominance of sellers.&nbsp;</p> 
<p>The short-term pullback in the SPCE shares is not sustaining on higher levels. It seems like bears are using the pullbacks to build short positions.&nbsp;</p> 
<p>Virgin Galactic Stock price closed the previous session at $2.77 with an intraday decline of -4.15%. The market capitalization stands at $1.02 Billion.</p> 
<h2 class="wp-block-heading" id="strong-virgin-galactic-stock-more-downside-possible-strong"><strong>Virgin Galactic Stock: More Downside Possible?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/iKiZuYKbedJHO4k-M88TICnR2M_F1yL4MH2wIVImD8lHZ8uxUdWhB5wyvNitutyw09BKe3pk6eKxzIkgRvHFfYjlwD7RDYaTaUkO_Nz_Ancsxo5SE3MwxL533Tl7SSlIrkwcGzcV6x-QHCCCl063Yw" alt="Virgin Galactic Stock: SPCE Stock hit 52- Week Low, End is Near?"> 
  <figcaption class="wp-element-caption">
    NYSE: SPCE daily chart by <a href="https://www.tradingview.com/x/XWsJNf9C/" rel="noopener noreferrer nofollow">TradingView</a>&nbsp;&nbsp; 
  </figcaption> 
 </figure> 
</div> 
<p>Virgin Galactic Stock (NYSE: SPCE) has not performed well and disappointed the expectation of long-term investors. The broader market index S&amp;P 500 and Nasdaq Composite is also turning mild bearish. It might negatively impact the overall market sentiment.&nbsp;</p> 
<p>Till SPCE <a href="https://www.thecoinrepublic.com/2023/07/30/virgin-galactic-stock-beware-of-a-short-squeeze-in-spce-stock/" target="_blank" rel="noopener noreferrer nofollow">stock price</a> trading below $4.00, any short-term pullback will face difficulty in holding the higher levels.&nbsp;</p> 
<p>However, if the price breakout of the $4.00 level then a short-term trend reversal is possible. On the other hand, if the price drops below $2.50 then more downside will open.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-spce-stock-price-is-bearish-on-multiple-time-frames-strong"><strong>SPCE Stock Price is Bearish on Multiple Time Frames</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp; 
 <div id="tradingview_850a2"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"> <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a> 
 </div> &nbsp;&nbsp; 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp; 
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NYSE:SPCE",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "dark",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_850a2"

}

  );

  </script> 
</div>  
<p>SPCE stock price is bearish on daily, weekly, and monthly time frames. It fell by 20% on a YTD basis but still no signs of recovery are visible.&nbsp;</p> 
<p>Virgin Galactic Holdings released the previous quarter earnings on August 1, 2023. It reported an EPS of -0.46 and revenue of $1.871 Million. The company beat the EPS estimates but missed the revenue.&nbsp;</p> 
<p>Due to this, <a href="https://www.thecoinrepublic.com/2023/07/30/virgin-galactic-stock-beware-of-a-short-squeeze-in-spce-stock/" rel="noopener noreferrer nofollow">stock prices</a> reacted negatively and the downfall is still continuing. It seems like the end of SPCE stock is near.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Virgin Galactic Stock (NYSE: SPCE) hits a 52-week low but still no signs of recovery are visible. The technical analysis suggests SPCE stock is inside the bears grip and more downside is possible.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $4.29 and $5.00</li> 
 <li>Support levels: $2.50 and $2.00</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: SPCE Stock hit 52- Week Low, End is Near?

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Thecoinrepublic.com

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