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Virgin Galactic

Market Opportunities - 11/05/2021

11 May, 2021

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

Virgin Galactic weekly uptrend opportunity based On 1.00 Lot Calculation:

  • Virgin Galactic develops space vehicles. The company designs exploration technology such as missiles, rockets, and other related equipment. Virgin Galactic Holdings serves customers in the United States.
  • EVENT: VIRGIN GALACTIC TO PROVIDE UPDATES ON TEST FLIGHTS NEXT WEEK (May 17- May 21): Virgin Galactic said Monday (May 10) its next test flight is under review after previously saying tests were due this month (May). The company will report back next week with an update on the schedule implications. The company is working to complete development of its SpaceShipTwo system, with four test flights remaining before Virgin Galactic begins commercial service in 2022.
    SpaceShip II named Unity, has been earlier scheduled to resume flight tests in May. The last test conducted in December failed to impress investors. This time, however, the expectations are positive. Some 600 people have booked flights on Virgin Galactic, the company founded by British billionaire Richard Branson, and thousands more are on a waiting list. The tickets cost $250,000 for a 90-minute flight into space.
  • STOCK PRICE ACTION: Virgin Galactic fell more than 20% on May 10 - May 11 to hit its lowest rate since September 2020 ($15.00). Virgin Galactic trades around 75% off of its all-time high of $62.33 as recently as February 4, 2021.
  • STOCK PRICE TECHICAL OVERVIEW (SUPPORT AREA BETWEEN $14 AND $15 A SHARE): Historically, the Virgin Galactic stock has been around since 2019, maintaining a strong support area between $14 and $15 a share. As the stock price trades currently close to that area, we may expect it to bounce up. In addition to that, the Daily Relative Strength Index trades at the oversold threshold of 30, suggesting a possible upward price recovery.

Virgin Galactic, May 11, 2021
Current Price: 15.00

Virgin Galactic

Weekly

Trend direction

UP

Resistance 3

36.00

Resistance 2

30.00

Resistance 1

23.00

Support 1

10.00

Support 2

8.00

Support 3

6.00

Example of calculation base on weekly trend direction for 1.00 Lot*

Virgin Galactic

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

210,000.00

150,000.00

80,000.00

-50,000.00

-70,000.00

-90,000.00

Profit or loss in €**

173,020.36

123,585.97

65,912.52

-41,195.32

-57,673.45

-74,151.58

Profit or loss in £**

148,783.17

106,273.69

56,679.30

-35,424.56

-49,594.39

-63,764.21

Profit or loss in C$**

254,310.00

181,650.00

96,880.00

-60,550.00

-84,770.00

-108,990.00

* 1.00 lot is equivalent of 10000 units
** Calculations for exchange rate used as of 9:00 a.m. (GMT+1) 11/05/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details

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