Momentum

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>SPCE stock price fell 8% in the previous session and hit a 52-week low.</a></li>
 <li><span>2</span> <a>Virgin Galactic stock price (NYSE: SPCE) is in a strong downtrend.</a></li>
 <li><span>3</span> <a>SPCE stock price dropped below $2.00.</a></li>
</ul>
<p>Virgin Galactic Holdings Inc. SPCE stock price fell 15% in October and hit a fresh low. It displayed a bearish pattern and continued the downfall by forming a lower low.&nbsp;</p>
<p>Virgin Galactic stock price is in a strong downtrend and trading far away from the downward-sloping EMAs. However, the short sellers are continuously selling from the higher levels so it increases the risk of the squeeze.&nbsp;</p>
<p>In mid-August, SPCE stock price broke the crucial support of $3.00. It triggered the negative sentiment and invited further fall.&nbsp;</p>
<p>Virgin Galactic stock price formed a double-top bearish pattern. Later, the price broke down the neckline support which triggered the next phase of decline.&nbsp;</p>
<p>The price behavior of the SPCE share is quite volatile and speculators are active. So, the short sellers must remain careful before building fresh shorts.&nbsp;</p>
<p>Previously, buyers tried multiple times to push the price above the 50-day EMA. However, due to the strong presence of sellers, the price kept on facing rejection.&nbsp;</p>
<p>Virgin Galactic <a href="https://www.thecoinrepublic.com/2023/09/22/spce-stock-price-nears-52-weeks-low-amid-negative-revenue/" rel="noopener noreferrer nofollow">stock price</a> closed the previous session at $1.53 with an intraday decline of -8.93%.&nbsp;</p>
<h2 class="wp-block-heading" id="strong-spce-stock-price-analysis-beware-of-short-squeeze-strong"><strong>SPCE Stock Price Analysis: Beware of Short Squeeze</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh5.googleusercontent.com/Qcao6Y35H5piiobaqs-8xH7rDxQVZguuEWgditOM4ajh0UE6HF2SGAW_i8ouq0sMCf7eMJzKY8bFgAfMo_E4gDhr0aL24Pz2KeFPNZtCq_Dea11BzEBWey8yjd7JHALPTHoX6C5jGwoz7ihvNmYqy5c" alt="SPCE Stock Fell 8%; Virgin Galactic Stock Below $2; What Next?">
  <figcaption class="wp-element-caption">
   NYSE: SPCE daily chart by <a href="https://www.tradingview.com/x/L6XtFCYs/" rel="noopener noreferrer nofollow">Tradingview</a>
  </figcaption>
 </figure>
</div>
<p>SPCE stock price is inside the bears’ grip and no signs of recovery are visible. The sellers are more active as compared to buyers. Therefore, any short-term upmove will not be reliable and might face difficulty in sustaining the higher levels.&nbsp;</p>
<p>Till <a href="https://www.thecoinrepublic.com/2023/09/22/spce-stock-price-nears-52-weeks-low-amid-negative-revenue/" rel="noopener noreferrer nofollow">Virgin Galactic stock</a> price trades below $3.00, it is expected to remain in the bears’ grip. The analysis suggests a short squeeze might trigger to clear out the shorts’ positions. But the up move will be temporary and the price will again revert down.</p>
<h3 class="wp-block-heading" id="strong-virgin-galactic-stock-bearish-momentum-might-continue-strong"><strong>Virgin Galactic Stock: Bearish Momentum Might Continue</strong></h3> 
<div class="tradingview-widget-container">
 &nbsp;&nbsp; 
 <div id="tradingview_ccef3"></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": "light",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;RSI",

    "STD;Supertrend"

  ],

  "container_id": "tradingview_ccef3"

}

  );

  </script>
</div> 
<p>Virgin Galactic stock is bearish on a multiple timeframe chart. The financials of the company are not upto the mark and unable to generate profit for the last five years. So, investors seem to have taken an exit from higher levels.&nbsp;</p>
<p>Technical indicators like MACD are below the zero line indicating that bearish momentum might continue for some time. The RSI at 28 denotes weakness and is near the oversold territory. So, it increases the probability of a squeeze.&nbsp;</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>Virgin Galactic Holdings Inc. SPCE stock price fell 15% in October and dropped below $2.00. It has corrected a lot in the last two months but still no signs of recovery are visible.&nbsp;</p>
<p>The analysis suggests Virgin Galactic stock price is inside the bears’ grip so investors should avoid creating any positions.&nbsp;</p>
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5>
<ul>
 <li>Resistance Levels: $2.12 and $3.07</li>
 <li>Support Levels: $1.50 and $1.00</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>

SPCE Stock Fell 8%; Virgin Galactic Stock Below $2; What Next?

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