Virgin Galactic Stock has taken a hammering recently due to bond offerings and delays. But at these lower prices, it could be a good opportunity long term.

Virgin Galactic (NYSE: SPCE) is a spaceflight company that is within the Virgin Group. The main aim of Virgin galactic is commercial space travel & scientific launches into spaces. The company was founded in 2004 and recently went public on the NYSE. Virgin Galactic has some serious potential in the future as space travel is just starting, it is a case of picking the right companies now for long term growth and Virgin does fit that profile.

From a technical aspect, the stock looks poor, MACD is trending strongly negative right now with the RSI reading near 30.4, suggesting we are nearly in oversold conditions. This is one of the reasons why this stock looks interesting. The last time the stock hit these oversold levels was December 2019, in which the stock then rallied 495% over the next 3 months. Looking for technical levels to watch, the next level of support is quite low at about $7 and Virgin could easily get that low. Looking at the upside, the initial targets/resistances above are $14.30, followed by $19.87. Virgin has been able to get above this level multiple times reaching over $50 on 2 occasions. I could easily get above there again in the longer term (3-4yr picture).

The stock looks good due to the upside potential. Virgin Galactic is one of the few companies which actually are close to commercial space travel and therefore are helping pioneer the way forward. Once ticket sales start, it could be quite a lucrative business as many people will want to go on these trips.