Virgin Galactic ($SPCE) at $7.30 Shows Bullish Signs, Potential to Reach $10 to $20

$SPCE, currently trading at $7.30 per share, has shown a bullish divergence off the bottom of a falling wedge. The stock recently did a reverse split (r/s) and has dropped to oversold levels, with nearly 28% of the float short. Analysts are looking for a corrective bounce, potentially fueled by the high short interest. The company holds around $38 per share in cash and $20 per share in book value. Technical indicators suggest an inverse head and shoulders pattern, and a potential bull pennant, with bulls aiming to clear and defend the $7.50 level on increasing volume. Some traders believe $SPCE could reach $10 to $20 in the short term. Traders emphasize the importance of keeping a stoploss.