7.8 Morning SPCX Market Analysis - Shiyuan's View

Yesterday's bearish expectation fully materialized. After a pump to trap longs, a cliff-like drop fully materialized!!
Yesterday, a reversal under pressure at 168 high was clearly identified. The uptrend structure was completely destroyed. Any rebound is an opportunity to short at high. The market continued to weaken as expected, support at 155 was directly lost, the lowest intraday reached 149, bearish selling pressure continued to release with volume, the 4-hour chart saw consecutive large bearish candles, and bullish momentum completely exhausted.

The previous uptrend has completely collapsed. The slight bounce after the sharp drop is only a short-term repair to trap longs. There are layers of resistance above, unable to hold above the 152 watershed. The downtrend continues. The operation should focus on shorting on rebounds. Do not bottom-fish without stabilization signals at low levels. Strictly avoid going long with heavy positions against the trend and getting trapped.

SPCX→Currently 151
Resistance: 152, 159, 168; Support: 149, 145

Trading Suggestions:

1. On rebound to 152 under resistance, open a small short position. Stop loss above 161. Targets: 150 → 149 → 145.
2. After a pullback to around 149, if stabilization and support appear, enter long in batches. Stop loss at 145. Target rebound to 152 level. Do not heavy bottom-fish without stabilization. $SPCX