CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Virgin Galactic

Market Opportunities - 09/06/2021

09 June, 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 is expected to perform its first commercial flight into space by early 2022. Virgin Galactic is founded by British Billionaire Sir Richard Branson.
  • EVENT: VIRGIN GALACTIC CONDUCTED A SUCCESSFUL TEST FLIGHT ON SATURDAY (MAY 22): Virgin Galactic space plane has conducted the first of three key test flights that should enable it to enter commercial service. The Unity vehicle powered to a height of 89km, and then returned back down to Earth. Unity was carried to 13km in altitude by its "mother" aircraft, Eve, before being released to ignite its rocket motor. The vehicle then climbed rapidly to the edge of space, achieving a speed three times that of sound (Mach 3) along the way.
    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. The prospect is worth at least 15 million dollars. Deposits paid: 80 million dollars. After the test flight, the company said that it should be expected much higher ticket prices as the industry remains well constrained and undersupplied.
  • EVENT: TIMELINE (TWO MORE IMPORTANT TESTS TO BE CONDUCTED): FIRST (EXPECTED: JUNE- JULY): The next flight should see four of Virgin Galactic employees join the pilots - to get a sense of the experience that future ticketed customers will enjoy. The identity of this quartet has yet to be revealed, even within the company itself. SECOND (EXPECTED: JULY- AUGUST): The flight after that would see Sir Richard Branson himself go to the edge of space.
  • LICENSING AND FIRST COMMERCIAL FLIGHTS: The licensing process is the responsibility of the US Federal Aviation Administration (FAA), who will now receive operational and performance data from the last test. Virgin Galactic is expected to start commercial flights by early 2022.
  • INDUSTRY ENTHUSIASM RISES: Virgin Galactic’s rival Blue Origin said that will send their founder Jeff Bezos to space on July 20, 2021. The fact that such an important person gets on board to fly to space is supposed to add to space tourism safety, which increases investors’ confidence. Virgin Galactic’s founder, billionaire Richard Branson is also expected to fly to space this summer.
  • RECENT STOCK PRICE REACTION TO VIRGIN GALACTIC TEST FLIGHTS: DECEMBER 13, 2020 (FAILURE): Stocks fell 18%. MAY 22, 2021 (SUCCESSFUL): Stocks rose 26%.
  • STOCK PRICE ACTION: Virgin Galactic trades around 40% off of its all-time high of $62.33 as recently as February 4, 2021. This brings around 68% of upside potential from current price ($37.12).

Virgin Galactic, June 9, 2021
Current Price: 37.12

Virgin Galactic

Weekly

Trend direction

UP

Resistance 3

55.00

Resistance 2

50.00

Resistance 1

45.00

Support 1

30.00

Support 2

27.00

Support 3

25.00

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 $

178,800.00

128,800.00

78,800.00

-71,200.00

-101,200.00

-121,200.00

Profit or loss in €**

146,819.73

105,762.76

64,705.79

-58,465.13

-83,099.31

-99,522.10

Profit or loss in £**

126,205.23

90,912.94

55,620.65

-50,256.22

-71,431.60

-85,548.51

Profit or loss in C$**

216,233.57

155,765.57

95,297.57

-86,106.43

-122,387.23

-146,574.43

* 1.00 lot is equivalent of 10000 units
** Calculations for exchange rate used as of 9:00 a.m. (GMT+1) 09/06/2021
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

Share It With Your Network
Virgin Galactic Chart
Update Time: -
Highest
Lowest
1M 5M H D W
Prices are loading..
Ready for trading?Start Now