SPCX has been a rocket ship off the post IPO lows, the stock rallied all the way above $200 after the IPO -we are going to the moon optimism- and that then it literally came back to earth testing the $100 level where it found support and started riding back up to regain the IPO $135 price.
I was watching that very closely at the bottom and I was able to initiate a position off the 10dma @ $115 and that was based on a massive volume pocket pivot, however I ejaculated out of the stock very quickly. It was a good trade
Now I see the price holding up above the 20dema and the test comes on declining volume, as we sit here in the morning of Sep 26th SPCX have a launch to the moon sometime today will see how would that go.
I initiated a position on Friday around $148.50 to test my setup theory, lets see how this is going to play out
