6.24 Afternoon SPCX Market Analysis - Shiyuan's Viewpoint

Previously, from the high point of 180, there was a continuous sharp decline, with the lowest reaching 146, as the bearish selling pressure was released in full. In the morning, a rebound was formed based on the low point, pushing higher but facing resistance and pulling back. Currently, it remains in a narrow range around 156, with insufficient rebound momentum. The overall large cycle is still in a weak oscillation after a decline, without forming a reversal pattern.

Four-hour consecutive small-bodied candlesticks indicate a technical correction after a sharp drop. The bulls lack sustained buying support, and resistance above is obvious. In the short term, the market is likely to continue oscillating within the range. If it cannot break through the upper resistance, there is a risk of a second downward test; holding the low support levels will result in continued narrow fluctuations, making blind long entries unsuitable.

Resistance: First resistance at 159, strong resistance at 163
Support: First support at 153, strong support at 146

Trading Suggestions:
1. Enter short positions near 159 on the rebound, with a stop loss above 163, target at 153, and if it breaks below, look for 146;
2. Revisit 146 for stabilization and a stop to the decline candlestick, then lightly try long positions, with a stop loss at 144, short-term target 153-159, and exit the rebound without holding long-term.
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