The article discusses the importance of technical analysis for newly public companies, particularly focusing on SpaceX's stock (SPCX), which had the largest IPO to date in June 2026. The stock has experienced significant volatility, initially spiking to nearly 200 before dropping below its IPO price and then recovering.
Currently, a bullish cup-and-handle pattern is forming, with a recent pullback establishing a higher low around 130. A breakout above 150 could target a price near 195, reminiscent of its early trading days. The analysis also notes the significance of moving averages, with SPCX trading above a rising 20-day moving average, indicating positive short-term momentum.
The 50-day moving average is newly established but also shows SPCX trading above it, suggesting further bullish potential if it begins to rise. The article emphasizes that as more trading history develops, additional technical indicators will provide clearer insights into SPCX's long-term trends, allowing investors to make informed decisions based on price action rather than speculation