On February 20, 2020, we said the following Virgin Galactic Holdings:
“Virgin Galactic Holdings (SPCE) is creating a scenario where the extreme downside target could easily be achieved while being considered a normal ‘bounce.’ The price would have to rise to above $60 before the above downside targets are no longer valid. These situations don’t end well…”
At the time, we also presented the targets below, with the extreme target being $14.16.
Since February 20, 2020, SPCE has declined as low as $9.06 on an intraday basis.
Upside Resistance Targets
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$26.49
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$31.93
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$37.21
The $37.21 target is the next stop, which currently equates to a range from $26-$37.
