Dave Barnhart breaks down SpaceX trading setups after its $150 IPO. The bullish case targets 153.98 to 159.11 using moving averages and pivots. If it rolls over, shorts can enter at 148.45, 147.14, or lower support levels down to 133.25.
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All right, let's switch over to SpaceX. Okay, so SpaceX, the deal here, $150 was the IPO price. Look at all of these prints. So we actually opened here June 12th. We came up, look at these massive prints, 3 million, 1.7, 2.5, all of this, we're below all of them. So it looks like institutions on this upthrust, whoever got caught at $225, I feel for you. On this day when the options actually opened, which was the Tuesday, I think it was June 16th, Then all of a sudden we had this big pin up top, big gravestone doji almost arguably, and then just this volume and we're below all of these prints now. So this is all overhead resistance according to institutional positions. So let's go ahead and see what we can do. So watch this 150 level. We're testing the IPO price bullish above 153. Let's get above this mass that's right here. Target 153.98, which is my 200 exponential as well. 154.55 is my 200 simple and the pivot. This might be it, essentially. If we come back up here and start rolling over, then it's a good shorting entry. 154.95 is next, 155.93, 157.04 is the beginning of these prints on the upside, which is 1.3 million. And then we've got 155.93, 157.04, I mentioned that, 158.86 is a CAM, 159.10 and 11 is 2.5 million. So if we can get above here Anyway, we've got some pockets on the upside. It's looking bearish anyway. On the downside, we're going to be bearish below 150. Let's get below here. Target 148.45, 147.14. Then we've got 145, 143.90 is S2, 142.14. Then we've got 140, 135, 133.25 is S3, which would usually be oversold. So anyway, that's a 17-point move on that one. Okay, there you have it. Those are your 2 trade setups for today. So please like, share, subscribe.
