SPCE , Potential add/entry tomorrow - Long

Jul 1, 2021

I think that we might have a wick play setup on open to validate a long entry/add tomorrow with stop vs low of day or perhaps 10ema depending on ones risk tolerance . Looking to get back to a full position if we open in the upper wick .

Jul 2, 2021

Note

So , did add back near end of day today . Stop on add is 42.59 . This stock was highly shorted and today Virgin announced a fully crewed space flight which is sending the stock soaring after hours. Its way up but if you did not enter in todays market I think there is a good possibility we will see a short squeeze further propel up the stock tomorrow which could be day traded. I think I will play that as a separate position as well if price action validates an entry .

Jul 2, 2021

Note

Also , we did not see the wick play follow through as per my original idea but I could see on a lower 5 min timeframe that SPCE was doing its best to take back the moving averages near end of today and that it was holding its gap too so that was my justification for adding back even though we never saw a decent open in the wick .

Jul 2, 2021

Note

sold my add this morning at 51.45 , planning on day trading if it decides to go up , sellers in control for now but volume tightening.

Jul 2, 2021

Trade closed manually

Jul 2, 2021

Note

All my adds and my remainder of core position are sold .
I actually meant to hold my core position ,which was scaled down to half , but I sold it by accident today lol . Decided to just stay out for now and base my next decision on what happens next week . Any new entries for spce ill start a new idea .