Why a Trend Reversal is Due for SPCE

The heavy selling of SPCE shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 28.84. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand.

This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering SPCE in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 8.9% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.