Traction in SPCE - Market Analysis for Jan 15th, 2021

We're finally seeing some traction in SPCE. This is a setup that was a price cluster in the 22.44-22.87 area.  The actual low made on Jan 4 into the price support zone triggered on Jan 5 for the aggressive swing trade trigger.

So far we've seen a nice rally off this cluster, but we still have higher targets, so I'm willing to look at setting up pullbacks for another buy entry.  The upside targets come in at the 39.34 area and then 43.82.  


Carolyn Boroden, who is renowned for her expertise in Fibonacci price and timing analysis, hosts the Fibonacci Market Analysis service at ElliottWaveTrader.