Founded by somewhat eccentric billionaire Richard Branson, Virgin Galactic (NYSE:SPCE) is on a mission to make astronauts out of regular folks — who happen to have an extra several hundred thousand dollars lying around. You can invest in this intriguing mission with a position in SPCE stock.

To its credit, Branson’s business established the world’s first purpose-built commercial spaceport, according to Virgin Galactic. Besides having a cool name, Spaceport America is spread across 27 square miles and holds the promise of the future of space flight technology.

This all sounds exciting, but not everyone’s a fan of the company or of SPCE stock. For the shareholders, Virgin Galactic has suffered from a “failure to launch” since June.

On the other hand, contrarians and prospective space jet setters can still find reasons to believe in Virgin Galactic. Even if you’re not preparing to take a ride into orbit, you can still aim for the stars with a buy-low, sell-high investment strategy.

A Closer Look at SPCE Stock

SPCE stock provides textbook examples of the technical concepts of support and resistance. However, the resistance level would be $60, which the Virgin Galactic share price reached in February and again in June. Therefore, if you happen to own the stock, it’s not a bad idea to sell some shares if and when they get back to $60.

Now, let’s talk about the support level. SPCE stock came down to $17 several times in 2020 and then again in May of 2021, before rebounding each time. That’s a fairly reliable track record, and it establishes a historically consistent range for the stock.

As of early November, the Virgin Galactic share price was trading much closer to $17 than $60. Hence, it’s perfectly OK to accumulate some shares here, as the next 3x move to $60 could be right around the corner.

Problems and Resolutions

One of my favorite ways to flex my contrarian chops is by purchasing a stock after there’s been a problem which will probably be resolved at some point. When the problem is happening, it might feel like the end of the world. Everybody and his/her uncle hates the company and the stock at that moment, it seems.

For instance, the sentiment was decidedly negative when Virgin Galactic initiated a $500 million share sale. The pessimism level ran high as SPCE stock fell 17% on that news. It’s as if the investing community had completely forgotten that Branson had just successfully flown into space.

With that, he beat fellow eccentric billionaires Elon Musk and Jeff Bezos to the punch. Besides, Virgin Galactic continues to advance its missions regardless of the share sale. It was never really a worrisome event for loyal investors (or at least, it shouldn’t have been).

Putting Safety First

Here’s another example. Some folks criticized Virgin Galactic in August when the Federal Aviation Administration (FAA) investigated the company regarding safety issues with July’s Unity 22 flight.

The next thing you know, in late September, that inquiry was concluded and Virgin Galactic was fully cleared to fly by the FAA. Virgin Galactic CEO Michael Colglazier evidently determined that his company was better positioned for space flight due to the investigation.

“The updates to our airspace and real-time mission notification protocols will strengthen our preparations as we move closer to the commercial launch of our spaceflight experience,” Colglazier clarified.

Also, just recently, Virgin Galactic’s Unity 23 test flight was rescheduled to a later date. This delay might frustrate some of the company’s investors. However, it’s important to understand why Virgin Galactic chose to do this.

Apparently, the company has commenced a planned vehicle enhancement/modification program. This program is designed to improve the vehicle performance and flight-rate capability of VMS Eve and VSS Unity.

With this rescheduling, Colglazier was careful to emphasize his company’s commitment to excellent in space flight technology.

“The re-sequencing of our enhancement period and the Unity 23 flight underscores our safety-first procedures, provides the most efficient path to commercial service, and is the right approach for our business and our customers,” the CEO explained.

The Bottom Line

Investors can take advantage of companies’ perceived problems, especially if they’re likely to be resolved.

These issues may turn out to be dip-buying opportunities. Heck, we’ve already witnessed SPCE stock decline and recover a number of times in the past. So, there’s no need to fret when Virgin Galactic faces obstacles.

Problems can lead to resolutions — and profits too, for folks who bought at the right time.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

David Moadel has provided compelling content – and crossed the occasional line – on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.