7.14 Tuesday SPCX afternoon outlook

SPCX’s current share price is about $139, with a single-day drop of over 4.1%. During the session, it hit a low of $137.68, setting a new all-time low since listing. It has been weak for two consecutive trading days, and is only one step away from the $135 IPO issue price. Trading volume has clearly shrunk versus the average daily level, and market funds are in a wait-and-see mood. Investors are also awaiting the U.S. June CPI inflation data scheduled for the evening to set the tone for the near-term direction.

Technically, it has completely entered a one-way bearish channel. The share price is firmly under pressure below the 50-day moving average ($163.88). The prior 52-week low of $145.07 has flipped from support into a strong resistance level. The near-term upside resistance is $145–$148; only if a rebound can hold above it can the chart repair and refocus toward the $155 area. The key for turning around the weakness is the medium-term strong resistance at the $164 moving-average threshold. The near-term lifeline below is the $135 IPO issue price. Once it is effectively broken, it will open up a new round of downside room, further pushing toward the $130 round-number level.

Trading suggestion: look to buy at $140–$142; targets: $137–$135$BTC $ETH $SOL