SPCX — Monday, August 10 SetupSpace Exploration Technologies CorpNASDAQ:SPCXBullBearInsights SPCX has been one of the stronger momentum names on my screen. After building a base around the $105–$115 area, price broke out and quickly pushed into the $134 range. For Monday, I think the bigger question is no longer whether SPCX has momentum. It does. The question is whether buyers can turn this move into another leg higher or whether dealers keep price pinned around the $130–$135 area first. My bias remains bullish, but I would be careful chasing the open after such a strong run. 1 Hour Chart The 1H structure is still clearly bullish. SPCX continues to make higher highs and higher lows, and the breakout from the $115 area has not shown any meaningful structural failure yet. What I like most is that after the aggressive move higher, price is holding near the highs instead of immediately giving the move back. The first major decision level is $135. A clean break and acceptance above $135 could open the door toward $139, followed by the larger $145–$150 zone. My projected trend structure also points toward roughly $149, so that area makes sense as an upside target if momentum continues. On the downside, $130 is the level I care about most. As long as the 1H structure continues holding around $130, I consider the larger trend intact. Below $130, I would start watching $126–$128, followed by $120–$117. 15 Minute Chart The 15-minute chart is bullish, but much more extended. RSI is around 77, so momentum is clearly overbought. That doesn't automatically mean SPCX needs to sell off. Strong stocks can stay overbought much longer than traders expect. What matters is price behavior. Right now SPCX is consolidating near $134 instead of seeing aggressive profit taking. To me, that looks more like buyers absorbing supply near the highs. For Monday, I want to see how SPCX reacts around $133–$135. If price holds $133 and starts pushing through the recent $134.45 high, then $135 becomes the breakout trigger. A pullback into $131–$132 would also be completely normal and could actually make the chart healthier by allowing momentum to reset. The setup starts becoming weaker if SPCX loses $130 and cannot reclaim it. GEX / Dealer Positioning This is where Monday becomes interesting. The GEX chart shows strong call positioning with approximately 87.9% calls, while GEX remains positive. There are important positioning levels around: $130 $135 $145–$146 $150 My interpretation is that dealers may initially try to keep SPCX contained around the $130–$135 zone. In a positive gamma environment, dealer hedging can often work against large moves. Dealers may buy weakness and sell strength, which can create a pinning effect around major option levels. That makes $135 especially important. If SPCX keeps getting rejected around $135, I would not immediately turn bearish. It could simply mean dealer positioning is keeping price contained while the stock consolidates. But if real buying pressure pushes SPCX through $135 and price begins accepting above that level, the situation changes. Dealer hedging around higher strikes could then contribute to the move rather than contain it. That is where I think $139 and then $145–$146 could come into play fairly quickly. How I See Monday Playing Out My preferred scenario is actually not an immediate vertical move at the open. I would rather see SPCX hold between roughly $131 and $135, allow some of the short-term overbought condition to cool, and then make another attempt at $135. Bullish scenario Hold $133 Break $134.45 Accept above $135 Targets: $139 $145–$146 $149–$150 Consolidation scenario Reject $135 Pull back toward $132–$130 Buyers defend $130 Reclaim $133 That would keep the bullish structure intact and could create another setup later in the session. Bearish scenario Lose $130 with sustained 15-minute closes below it. Then I would stop treating every dip as a buying opportunity. My downside levels would become: $126–$128 $120 $117 My Plan I am bullish on SPCX above $130, but I don't want to chase a stock simply because it has already moved 15–20 points. For Monday, $135 is my trigger and $130 is my line in the sand. Above $135 with confirmation, I believe the next expansion could target $139 and eventually the $145–$150 area. Between $130 and $135, I expect more dealer-controlled consolidation. Below $130, the short-term momentum thesis starts changing. The interesting part about SPCX right now is that the 1H trend, 15-minute momentum and GEX structure are all meeting at essentially the same place. That makes $130–$135 the battlefield for Monday. I won't try to predict the first candle. I'll let price show whether buyers or dealers are controlling that zone first.