SpaceX, the big guys are showing interest so are we!Space Exploration Technologies CorpBATS:SPCXDG55CapitalSPCX: Absorption, Not Distribution August 6 was supposed to break this stock. Roughly 911.5 million shares, close to $100 billion of insider paper, became sellable two days after a debut earnings print that dumped SPCX to an all-time closing low of $108.27. The flood never came. Turnover hit 255 million shares and $28.2 billion, the heaviest since 7 July, and price still closed up 6.1%. Supply met a bid. That bid is the story here. Vanda logged $22.7 million of net retail buying in the first hour after earnings, while SpotGamma data showed institutional options positioning rotating out of speculative out-of-the-money calls into structurally bullish exposure. Morgan Stanley's Adam Jonas called the expiry an entry opportunity rather than a warning. Argus sees $160, Bank of America reiterated $235, Bernstein lifted its target to $248. The print supports the interest. Revenue and EBITDA both cleared consensus comfortably. The selloff was a verdict on $18.4 billion of quarterly capex, not on demand. Connectivity added 1.7 million net subscribers and management now guides to a $100 billion annualised revenue run rate by year end. From $134, the path to $170 runs entirely through $135. That is the IPO price, the 0.236 retracement, and the cost basis of every allocated buyer in the book. Reclaim it and $150 comes quickly. Fail it and the next tranche of roughly 319 million shares from August 12 puts $108 back in play. Entry - 133.11$ Take profit 171.92$ SL - 115.28$ We are looking at roughly 30% upside from this point onwards. We would like to hear your thoughts in the comments below! As always my friends happy trading!