SPCX is witnessing healthy profit booking after its strong post-listing rally.
The recent decline does not necessarily indicate a trend reversal. It appears that early participants are booking profits after the sharp move from listing levels.
As long as the stock holds above $160, the broader bullish structure remains intact.
Trading Plan
• Support Zone: $160
• Stop Loss: $160
• Upside Target: $250
A sustained hold above support could attract fresh buyers and potentially drive the next leg higher toward the $250 region.
Newly listed stocks are often volatile. Expect sharp swings as the market discovers a fair price.
Risk Management First.
#SPCX #IPO #Stocks #Trading #Investing #PriceAction #NASDAQ
The recent decline does not necessarily indicate a trend reversal. It appears that early participants are booking profits after the sharp move from listing levels.
As long as the stock holds above $160, the broader bullish structure remains intact.
Trading Plan
• Support Zone: $160
• Stop Loss: $160
• Upside Target: $250
A sustained hold above support could attract fresh buyers and potentially drive the next leg higher toward the $250 region.
Newly listed stocks are often volatile. Expect sharp swings as the market discovers a fair price.
Risk Management First.
#SPCX #IPO #Stocks #Trading #Investing #PriceAction #NASDAQ
Trade closed: stop reached
this has failed badly.. momentum did not sustained
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.