One such AI trading robot is Swing Trader: Top High-Volatility Stocks (TA), which generated a return of 4.50% for SPCE (Virgin Galactic Holdings Inc.) in Tickeron's robot factory over a week.
SPCE's Aroon Indicator triggered a bullish signal on May 11, 2023. The Aroon Indicator is a technical analysis tool that uses the up and down indicators to determine the strength of a trend and the likelihood of a reversal. When the up indicator (AroonUp) moves above 70 and the down indicator (AroonDown) remains below 30, it indicates that the stock could be setting up for a bullish move. Traders may want to buy the stock or look to buy call options.
To confirm the bullish signal, Tickeron's A.I.dvisor looked at 150 similar instances where the Aroon Indicator showed a similar pattern. In 138 of the 150 cases, the stock moved higher in the days that followed, putting the odds of a move higher at 90%.
However, it's important to consider the fundamental factors that can affect the stock's performance as well. The last earnings report on May 09 showed earnings per share of -56 cents, missing the estimate of -51 cents. With 10.61 million shares outstanding, the current market capitalization sits at 1.17 billion dollars.
The negative earnings per share indicates that the company is not profitable at the moment. However, it's worth noting that Virgin Galactic is a development-stage company that is yet to generate meaningful revenue. The company is still in its early stages of operation and is investing heavily in research and development. Therefore, earnings per share may not be the best metric to evaluate the company's performance at this point.
SPCE may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 39 cases where SPCE's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a holding company, which engages in the business of owning and operating privately built spaceships
Industry AerospaceDefense