Core Viewpoint - Virgin Galactic (SPCE) shares have recently declined by 6.2% over the past week, but the formation of a hammer chart pattern suggests potential support and a possible trend reversal in the future [1][2]. Technical Analysis - The hammer chart pattern indicates a potential bottoming out, suggesting that selling pressure may be exhausting [2][5]. - A hammer pattern forms when there is a small candle body with a long lower wick, typically occurring during a downtrend, signaling that bears may be losing control [4][5]. - The effectiveness of the hammer pattern is contingent on its placement on the chart and should be used alongside other bullish indicators [6]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for SPCE, which is a bullish indicator suggesting potential price appreciation [7]. - The consensus EPS estimate for the current year has increased by 11.9% over the last 30 days, indicating that analysts expect better earnings than previously predicted [8]. - SPCE holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [9][10].