$SPCX Don't get it twisted, this isn't about SpaceX having issues.
A lot of folks see SPCX and think they're buying into SpaceX,
but it's more like a contract pegged to the pre-IPO hype of SpaceX, not the actual stock.
This price action dropped from the 200s all the way down to around 170, and it feels more like:
Elon, SpaceX, and the Pre-IPO story got way too hyped,
and now short-term traders are cashing out.
The fundamentals are solid,
but the chart is definitely showing weakness right now.
I'm eyeing two key levels:
If 170 holds, we could see a bounce.
If it can't reclaim 180-185, it's still looking weak.
If we break 170, we need to watch for support around 160-155.
In short:
$SPCX is trading on SpaceX expectations,
not on any project blowing up.
No matter how strong the background, if no one is buying, it’s going to drop. $SPCX
A lot of folks see SPCX and think they're buying into SpaceX,
but it's more like a contract pegged to the pre-IPO hype of SpaceX, not the actual stock.
This price action dropped from the 200s all the way down to around 170, and it feels more like:
Elon, SpaceX, and the Pre-IPO story got way too hyped,
and now short-term traders are cashing out.
The fundamentals are solid,
but the chart is definitely showing weakness right now.
I'm eyeing two key levels:
If 170 holds, we could see a bounce.
If it can't reclaim 180-185, it's still looking weak.
If we break 170, we need to watch for support around 160-155.
In short:
$SPCX is trading on SpaceX expectations,
not on any project blowing up.
No matter how strong the background, if no one is buying, it’s going to drop. $SPCX