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: Consolidation
-Intraday pattern: Consolidation
-Levels: 14.85, 15.1, 15.5
Strategy / Confluence / Sizing Guide / Risk
Strategy: First test long of 15.1 by 15 level
Confluence: VWAP
Strike Zone: 15.1 - 15
Sizing (lots): 3
Risk (stop / Rs): 14.98 (below sub-level consolidation)
Review / Lessons Learned
Only loss today, held way to long, should have scratched it when it popped at 2:48pm.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-05-20 14:11:42 | SPCE | buy | $15.130 | long |
| 2020-05-20 14:11:42 | SPCE | buy | $15.130 | long |
| 2020-05-20 14:11:54 | SPCE | buy | $15.120 | long |
| 2020-05-20 14:11:54 | SPCE | buy | $15.120 | long |
| 2020-05-20 14:40:20 | SPCE | buy | $15.060 | long |
| 2020-05-20 15:13:23 | SPCE | sell | $14.980 | long |
| 2020-05-20 15:13:23 | SPCE | sell | $14.980 | 0 |
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