$SPCX #SPCX

Space stocks are pulling back after a parabolic mid-August leg, and SpaceX proxy SPCX is now testing its trend support after tagging $149.79.

SPCX (SpaceX) trades at $135.03, down -1.88 (-1.36%) on the day, with After-Hours at $134.93 -0.11 (-0.08%). The session printed High $138.33, Low $133.10, Open $134.35, Prev Close $136.91, Range % 3.82%. Two forces are behind the softness: a technical double-top rejection near $149.79 after the Aug 16th-18th spike, and profit-taking across space momentum names. With P/E Ratio TTM -200, Mkt Cap $1779.93B, P/E Ratio LFY -357.142, the move shows valuation-insensitive momentum finally cooling.

Looking at the broader picture, SPCX has completed a full V-recovery: From a capitulation low of $104.84 on Aug 6th-7th, it rallied 42.8% to $149.79 by Aug 16th-18th, breaking a 3-week downtrend from mid-July that saw it drop from ∼$150+ to $104.84. The July 20th-30th base around $108-112 held for 10 days before the breakout on Aug 8th. The Aug 8th-18th uptrend was vertical, now entering first higher-low test.

On the technical side, the standout is the MA compression. On the 4h chart, MA5 is at $135.58, MA10 at $137.72, and MA30 at $133.95. Price at $135.03 trading below MA5 and MA10 but holding just above MA30 indicates short-term momentum is pausing while medium-term remains intact, with MA30 at $133.95 acting as critical support only 0.8% below spot. The 4h range between $133.10 and $138.33 is 3.82%, signaling consolidation after high volatility. The MACD(12,26,9) with MACD: -1.39, DIF: 1.94, DEA: 3.34, shows bearish crossover after extended positive - MACD flipping negative while DIF and DEA roll over from high, confirming exhaustion similar to other space beta names.

SPCX is experiencing dynamics similar to speculative growth proxies, with headlines like "Trump Invested Up to $50,000 in SpaceX in June" adding retail interest but also creating headline-driven volatility. Negative P/E reflects pre-profit status typical for space sector.

Other high-beta names are performing similarly mixed today compared to SPCX's -1.36%, showing broad derisking after vertical runs.

The common denominator is that rising Starship test cadence, increased launch contracts, and potential new funding rounds are supporting the long-term thesis, but the double rejection near $149.79 indicates strong supply. The $133.95 MA30 level will be decisive for continuation toward $138.33.

For those following SPCX directly through Gate Stocks, the key point is that this rally was driven by spot accumulation from $104.84 and momentum chasing to $149.79. Sustainability depends on Nasdaq stability and SPCX holding above $133.95. Details of upcoming launch updates and regulatory news around space sector in the coming days will be the most critical developments in determining whether this pullback to $135.03 is a healthy higher low before a retest of $149.79.

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