Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Virgin Galactic’s stock price closed at $1.99 with a gain of 4.19% during the last intraday trading session.</a> </li> 
 <li> <span>2</span> <a>Virgin Galactic confirmed October 5 as the launch date for its fourth paying space tourist flight, Galactic 04.</a> </li> 
 <li> <span>3</span> <a>The year-to-date return of SPCE stock is -45.03%.</a> </li> 
</ul> 
<p>Virgin Galactic (SPCE) stock price has been in a strong downtrend since it faced rejection above $6 on 21 June 2023. The company is successfully getting its galactic flight off the ground. The amount spent on the same is skyrocketing in the process which has led to a strong downfall in the stock price.&nbsp;</p> 
<p>In mid-August, the stock price shattered the key support level of $3 and witnessed a heavy downfall. After the meltdown, SPCE stock price formed support at $2.50 which collapsed on 6 September, 2023.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="606" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-430-1024x606.png" alt="Virgin Galactic (SPCE) Stock: Can it Recover From Here?" class="wp-image-168196" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-430-1024x606.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-430-300x178.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-430-768x455.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-430-750x444.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-430-1140x675.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-430.png 1431w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: SPCE Stock Price By <a href="https://www.tradingview.com/x/CNuOOlfh/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>Currently, SPCE stock price has formed support at $1.90 as the previous candle closed bullish with a spike of 4.19%. If bulls take control and the next candle can break the high of the last candle, Virgin Galactic’s stock price might retest $2.50. The probability of a bullish scenario playing out is pretty low due to the strong presence of bears.</p> 
<p>On the other hand, if bears can break the recent support of $1.90, SPCE stock price might melt down toward the key support level of $1.50.</p> 
<h2 class="wp-block-heading" id="strong-why-is-virgin-galactic-stock-sliding-heavily-strong"><strong>Why is Virgin Galactic Stock Sliding Heavily?</strong>&nbsp;</h2> 
<p>On September 8, the aerospace and travel company successfully flew three customers into space, which was the fourth successful space flight in four months. The flight was named named Galactic 03.&nbsp;</p> 
<p>Investors are more concerned about the spending in the process which is skyrocketing. The company spends $125 Million per quarter in expenses and has sold a backlog of about 800 flights with $250,000 per ticket.&nbsp;</p> 
<p>Doing simple maths shows that the backlog paid for the flights at $250,000 per ticket will not cover the operating expenses of $125 Million. Currently, one ship launches per month, with only two paying customers. It will be years before the company comes close to breaking even.</p> 
<p>A recent surge in SPCE stock was due to the confirmation of the launch date for <a href="https://www.thecoinrepublic.com/2023/08/28/virgin-galactic-stock-will-spce-stock-jump-upward-to-test-ema/" target="_blank" rel="noopener noreferrer nofollow">Virgin Galactic’s</a> fourth paying space tourist flight, Galactic 04, which is also the fifth space flight in five months. The company is sticking to its plan to launch one spaceplane in a month, fulfilling a promise made earlier this year, which has made investors more confident.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-will-spce-stock-price-fall-to-1-50-strong"><strong>Will SPCE Stock Price Fall to $1.50?</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="606" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-429-1024x606.png" alt="Virgin Galactic (SPCE) Stock: Can it Recover From Here?" class="wp-image-168195" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-429-1024x606.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-429-300x178.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-429-768x455.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-429-750x444.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-429-1140x675.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-429.png 1431w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: SPCE Stock Price By <a href="https://www.tradingview.com/x/QeJnNJUv/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/08/28/virgin-galactic-stock-will-spce-stock-jump-upward-to-test-ema/" target="_blank" rel="noopener noreferrer nofollow">stock price</a> trades below all the major exponential moving averages, suggesting bearish momentum. Chaikin money flow score stands at -0.27, implying strong weakness in the market. The relative strength index is hovering inside the oversold zone, suggesting the chance of a short-term pullback.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>After reaching stratospheric highs in 2021, SPCE stock price have now finally descended back to earth, falling more than 64% over the last 12 months. With the company far from profitability, investors aren’t very optimistic.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<p>Major support: $1.90 and $1.50</p> 
<p>Major resistance: $3 and $4.30</p> 
<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 (SPCE) Stock: Can it Recover From Here?

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