Shared by
beno
Fundamentals
New company focused on long term growth in space exploration, no revenues, pure speculation.
Catalysts / News / Painting the picture
-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
-SPCE has caught the eyes of many traders lately, also been in the news as the stock to beat TSLA's run
-May 05 2020: Earnings - strong cash position, more then $400m in cash, no meaningful revenues, still growth company
-May 06 2020: CEO on TV
Technical Analysis
-SPY pattern: Fade
-Intraday pattern: Afternoon Runner
-Levels: 16.75, 17.5, 18 - 18.2, 19
Strategy / Confluence / Sizing Guide / Risk
Strategy: First test long of 18.2 by 18 level
Confluence: N/a
Sizing (lots): 2, emergency adds @ 18
Risk (stop / Rs): below 18
Review / Lessons Learned
OGT, breakdown from high called out by my trading buddies, took trade immediately, hit offers, slowly scaled out
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-05-06 15:37:30 | SPCE | buy | $18.190 | long |
| 2020-05-06 15:37:39 | SPCE | buy | $18.170 | long |
| 2020-05-06 15:37:39 | SPCE | buy | $18.170 | long |
| 2020-05-06 15:38:56 | SPCE | sell | $18.310 | long |
| 2020-05-06 15:38:58 | SPCE | sell | $18.310 | long |
| 2020-05-06 15:39:37 | SPCE | sell | $18.320 | long |
| 2020-05-06 15:39:37 | SPCE | sell | $18.320 | long |
| 2020-05-06 15:40:09 | SPCE | sell | $18.385 | long |
| 2020-05-06 15:40:25 | SPCE | sell | $18.400 | 0 |
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