SPCE’s Mirror Image Foldback

Shares

SPCE crashed from a high of 62.80 in early February to 14.27 in early May.

A combo of gaps below the 20 day ma underpinned the drop.

A combo of gaps above the 20 day ma underpinned the turn to the topside.

SPCE is in what looks like the throes of tracing out a mirror image move to Pinocchio ATH’s to 65 based on a possible Inverse Head & Shoulders.

SPCE likes to rocket on Fridays apparently.

Last Friday it had a massive spike to 57 followed by a 1 2 3 Pullback to 43 yesterday into an open gap.

This morning, another spike is playing out with SPCE gapping up to 53.

Interestingly, the Square of 9 Wheel shows that 43, green, is 180 degrees down from this week's 57.50 high.

In sum, yesterday SPCE presented a Combo buy setup.

1) 180 degrees down

2) A 1 2 3 Pullback

3) Phil D. Gap

The confidence to take the setup was the best trading tool on the planet, the Square of 9 Wheel.

Leave a Comment: