Test

Resistance

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Virgin Galactic Stock (NYSE: SPCE) continued the downfall and fell 40% in the August month.&nbsp;</a> </li> 
 <li> <span>2</span> <a>SPCE stock price is near its 52-week low.</a> </li> 
 <li> <span>3</span> <a>Virgin Galactic Holdings Inc. stock facing difficulty in sustaining the higher levels.</a> </li> 
</ul> 
<p>Virgin Galactic – SPCE stock price is down by 40% in the current month and trading near its 52-week low. The prices are falling down by forming lower lows candles and no signs of recovery are visible.&nbsp;</p> 
<p>SPCE stock faced rejection from the 50-day EMA showcase downtrend and sellers continued the dominance on the higher levels.&nbsp;</p> 
<p>On a higher time frame, Virgin Galactic stock has formed a double-top bearish pattern. The prices also broke down the neckline support which invites further decline.&nbsp;</p> 
<p>SPCE stock price has gone far away from both the EMAs so a temporary pullback may trigger any time to test the EMA. However, any short-term pullback rally will face difficulty in holding the higher levels.&nbsp;</p> 
<p>Previously, Buyers tried multiple times to break out of the 50-day EMA. However, due to the strong presence of sellers, prices were rejected and continued the fall.&nbsp;</p> 
<p>SPCE stock price closed the previous session at $2.54 with an intraday decline of -1.55%. The market capitalization stands at $932.53 Million.</p> 
<h2 class="wp-block-heading" id="strong-is-alert-short-squeeze-possible-in-spce-stock-strong"><strong>Is Alert Short Squeeze Possible in SPCE Stock?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/Ce22RlAOaLgiWdHSXahXaacynsozPPoNkj46bY0ZalK5L-9wJ4t5tZv3QYfrJhKdJZOrnzwjyygLBxO5Oa5vJ8_ggfEaw-GMLiKEneFIwNWGHVn8y0MW8VpkeniS9Oi20ogvEVUUOYxQjNcBN4QhYUw" alt="Virgin Galactic Stock: Will SPCE Stock Jump Upward to Test EMA?"> 
 </figure> 
</div> 
<p>NYSE: SPCE daily chart by<a href="https://www.tradingview.com/x/2M9ZZhtz/" rel="noopener noreferrer nofollow"> TradingView</a></p> 
<p>SPCE stock price is quite volatile and speculative activities are also high. At the beginning of August, share prices dropped below the $4.00 support. It triggered the panic sell-off and short-term bulls exited.&nbsp;</p> 
<p>SPCE stock looks highly oversold and short sellers are highly active. This short squeeze might trigger to clearing out of the existing shorts. Till <a href="https://www.thecoinrepublic.com/2023/08/17/virgin-galactic-stock-spce-stock-hit-52-week-low-end-is-near/" rel="noopener noreferrer nofollow">Virgin Galactic</a> stock trades below $4.00 prices are expected to remain in bear grip.&nbsp;</p> 
<p>The technical analysis suggests SPCE shares<a href="https://www.thecoinrepublic.com/2023/08/17/virgin-galactic-stock-spce-stock-hit-52-week-low-end-is-near/" rel="noopener noreferrer nofollow"> price</a> is in a strong downtrend and speculative activities are high. Therefore, it’s better to avoid building up any positions in this stock.</p> 
<h3 class="wp-block-heading" id="strong-virgin-galactic-stock-is-bearish-on-a-multiple-time-frame-strong"><strong>Virgin Galactic Stock is bearish on a Multiple Time Frame</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp; 
 <div id="tradingview_46ce0"></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_46ce0"

}

  );

  </script> 
</div>  
<p>Virgin Galactic Stock is forming a bearish pattern on multiple time frames. Short-term buyers look reluctant to enter into a long trade in fear of further sell-off.&nbsp;</p> 
<p>The MACD curve generates a negative crossover and the histogram bar is red. It indicates bearishness and seller dominance.&nbsp;</p> 
<p>The supertrend indicator shows that the short-term and long-term trend is in a downward direction. The RSI at 27 denotes prices are in oversold territory and a temporary relief rally is possible.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Virgin Galactic – SPCE stock price is down 40% in the current month. The share prices are highly oversold so a short-term pullback rally is possible. The technical analysis suggests SPCE stock price is bear grip so it’s better to avoid building up any position.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $3.61 and $4.29</li> 
 <li>Support levels: $2.46 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: Will SPCE Stock Jump Upward to Test EMA?

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Thecoinrepublic.com

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