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$SPCE Poised for Swing Trading Gains - True Edge Trading

$SPCE Poised for Swing Trading Gains

$SPCE Poised for Swing Trading Profits

The aerospace stock SPCE ($SPCE) has seen a substantial pullback in the last two weeks. But now, we see various clues that should help it bounce back up in the next few days.

$SPCE tested the 62% retracement level.

In today’s session, we see $SPCE has formed a doji pattern and has closed near the $20 level. But we can also see that the low of today’s bar bounced off of the 62% Fibonacci Retracement level. With the pullback after a strong upward trend coupled with these two factors, we see $SPCE as a prime swing trading opportunity.

As a target, we like the $22.40 mark. This price level offered short term support in July, and and we could see a reaction to it as it may offer resistance on a retest.

Watch $SPCE over the next few days as it should provide a nice swing trading opportunity to the upside.

Jeff Drake
True Edge Trading