Virgin Galactic (SPCE) - Q2 Interest - Potential Accumulation

📊 Fundamental Analysis:
Virgin Galactic has been gaining attention in the market due to a positive Q2 performance. The company's strong quarterly results have sparked interest among investors, potentially indicating positive growth prospects ahead.

📈 Technical Analysis:
The chart above illustrates a potential Wyckoff accumulation phase for SPCE. The price action appears to be forming a classic Wyckoff pattern, suggesting a potential bullish reversal. We've seen a series of higher lows forming over time, indicating increasing buying interest.

🔄 Anticipating the Spring Phase:
The final confirmation for the Wyckoff accumulation pattern often comes with the "Spring" phase, which involves a liquidity grab at the bottom. In this case, we're watching for a potential dip to the 0.272 Fibonacci level around $2.36. This could act as the liquidity grab, setting the stage for a potential bullish move.

📈 Bullish Confirmation:
To confirm the bullish scenario, we're looking for a higher high (an outbreak) in the price action, potentially around the $8 to $10 range. This breakout would validate the accumulation phase and signal a potential trend reversal.

🔍 Key Levels to Watch:
Support: 0.272 Fibonacci at $2.36
Breakout Confirmation: $8 to $10 range

Let's discuss in the comments below! What are your thoughts on SPCE's potential accumulation phase and breakout scenario? Share your insights!