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: Runner
-Intraday pattern: Consolidation
-Levels: 18.5, 19, 19.5, 20
Strategy / Confluence / Sizing Guide / Risk
Strategy: First test long of 19.5 level
Confluence: Half $
Sizing (lots): 3
Risk (stop / Rs): Hold below 19.5
Review / Lessons Learned
Again, was supposed to take with 3 lots but only did one, shame... trying hard to work on this sizing issue but I always freeze and wait for better prices but they never come.
Lessons Learned: Always get to pre-defined size
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-05-11 14:29:23 | SPCE | buy | $19.570 | long |
| 2020-05-11 14:34:32 | SPCE | sell | $19.730 | long |
| 2020-05-11 14:34:41 | SPCE | sell | $19.700 | long |
| 2020-05-11 14:37:43 | SPCE | sell | $19.750 | long |
| 2020-05-11 14:37:45 | SPCE | sell | $19.750 | long |
| 2020-05-11 14:39:01 | SPCE | sell | $19.740 | 0 |
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