• Shares were trading in a sideways channel and fell below the key $15 level in late December 2021. This area may now hold as an area of resistance for the stock and if able to reclaim this level, the next area of strong resistance may be found near the $35 level.
• The stock trades below both the 50-day moving average (green) and the 200-day moving average (blue). This indicates the sentiment is bearish and each of these moving averages may hold as an area of resistance in the future.
• The Relative Strength Index (RSI) has been slowly fading lower for the past few months and sits at 26 on the indicator. This shows the RSI is now in the oversold region and the stock is seeing many more sellers than buyers.

Virgin Galactic has been on a downward spiral for the last half of the year and has fallen below all support lines. This shows bears are in full control of the stock and are looking for the stock to continue its downward trend and be able to hold below the moving averages. Bulls are looking to see the stock bounce back and start to head higher toward the $15 level once again. Bulls want to see the price cross $15 once again and begin to form higher lows toward the resistance level.