Compounded Bullish Structures on $SPCE

It is my interpretation that this leg down on $SPCE is ending. Nested falling wedges with nested divergences point to a rally. Here is the conservative target (though I believe it will eventually be greatly surpassed):

SPCE


[UPDATE]: This divergence has failed to cause a breakout, and the stock has simply continued to decline. I have now seen this with a variety of momentum names. In some of the other cases, I was able to simply cancel the calls as the prices were still close to where it they were when I made the calls, but in this case, as we’ve fallen 20%, I will file this one as an outright “Unsuccessful Call.” I will need to monitor the price action from here prior to making a new call.

SPCE


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