Virgin Galactic, $SPCE, is oversold and approaching its 200-day moving average. Earnings were announced earlier in August and SPCE has since declined. However, if it can bounce strongly off the 200-day moving average on volume, it could have the potential for a large move higher. Oversold with the 200-day moving average below often offers a good risk to reward. If the stock bounces-great. If the stock loses support, you can exit quickly for a small loss. SPCE is a stock that is worth watching over the coming weeks.
Full Disclosure: SPCE is a stock I currently own.
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