Shared by
beno
Fundamentals
New company focused on long term growth in space exploration, no revenues, pure speculation.
Catalysts / News / Painting the picture
-Recent Conference news
-Up swing fueled by below Dec 10 2019 Morgan Stanley comments:
-Morgan Stanley Bullish On Virgin Galactic, Says Space Tourism Is Incubator For Hypersonic Travel
Technical Analysis
-Supported at $7 (ATL)
-Levels: 7, 9, 11, 12, 16, 20
-Bearish intraday, was following SPY
-Back side swing potential put in today but very strong support at $16
Original Plan / Strategy
First Test Short of 17 by 17.15 zone
Review
The 17 psychological level was kinda of far away from actual level (15 cents) so instead on this trade I put one order before 17 and the remainder around the 17.15 level, only my first lot before 17 got filled before the pullback.
Lessons learned: if using a whole or half $ confluence level in your trade, scale in closer to the psychological number!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-01-24 13:49:54 | SPCE | sell | $16.980 | short |
| 2020-01-24 13:51:35 | SPCE | buy | $16.770 | 0 |
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