Good Analysis pays off over 262%

In April 2021, I wrote an article on Medium. In this article, as a technical trader, I had laid out my analysis of Virgin Galactic stock. In April, Virgin Galactic along with other growth stocks were falling. Based on the technical chart analysis, I had mentioned that my buy point was the green oval box which was in the range of $14–$17.

I had some buy orders waiting at those price points.

I got my buy orders filled on 5/11/2021 at $16. As of close on 6/25/2021, SPCE (Virgin Galactic) stock closed at 55.91 and after hours the price showed above $58.

There was news on Virgin Galactic getting the FAA’s OK to launch customers to space and hence the big pop. But even before this news it was at $41 price.

As of now I have over 260% gains in it in 1.5 months. The volume with which it has traded on Friday, suggests that there is more to go.

How much more?

Just based on simple FIB analysis, the target is around $75 after it takes out its previous ALL TIME HIGH of 62.8

Of course, I realize these gains have been helped by positive news.

At $16 when I bought it, I had no clue of the upcoming news but I knew at $16 price there was less risk compared to the potential of outsized reward.

And as a disciplined trader and investor that I am and aspire to always be, I had to take the trade. And now I reap the reward!!