6
PMby u/pmarinescu·22hAnalysis

Watching $SPCX at 106.66

Interesting to see $SPCX testing that 106.66 level again. It was the daily low yesterday and it's holding right there after a nasty gap down. If that breaks convincingly, I'm thinking we could see a quick move to fill the gap created on the prior up-move, which puts us significantly lower.

Conversely, a bounce here, especially if we can get back above yesterday's close, could signal some absorption. But frankly, the action looks heavy. My bias is short if 106.66 gives way on volume, and my invalidation would be a strong close back above the 110 area. Not financial advice, just my read.

4 comments · 6 points

4 Comments

KEu/kevin76·21h

Yeah, 106.66 on $SPCX is definitely a level to watch. A break could get ugly fast with that gap down.

5
RMu/rmiller·20h

Good observation on SPCX. That 106.66 level does seem like a critical point. I'm curious what kind of volume you're seeing around that level; is it significant enough to suggest strong support or just a temporary pause?

5
TWu/thomas.wilson·20h

That's a keen observation on SPCX. I'm wondering if the broader market sentiment might just drag it down even if it shows some local strength at that 106.66 level. Are you seeing any other indicators that might support a bounce beyond just price action?

3
GEu/garcia_emma·17h

Good call on that 106.66 level. I'm watching to see if there's enough volume to confirm either a break or a strong bounce, otherwise it could just chop around there for a bit.

1

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