SPCX - Profit Taking Soon? Space Exploration Technologies CorpBATS:SPCXVIAQUANTLet me begin by saying I see a lot of value in SpaceX and believe it will do very well in the long run. However, I think a significant pullback may still be coming soon. In this post I will not be focusing on the fundamentals of why this could occur. Instead, this idea is dedicated entirely to what the chart is telling us. Based solely on the chart, SPCX is entering a range where major profit taking could begin, and I will explain exactly why. The Profit Taking Setup Participants who bought in the IPO are currently up over 30% from the $135 IPO price, while those who bought near the $105 low are up almost 70%. That is a large amount of unrealized gains, which is the type of environment where selling can start to build. The Supply Zone Looking at the chart, here is why this matters. The peak of the first day of trading on June 12, 2026 was $176.52, and today price reached a high of $176.42 before sellers began stepping back in. This is the first major level to pay attention to, since in theory there should be a substantial amount of supply waiting to sell in this range. I would define the zone as $170 to $180, with the most focus on the $176 and $180 levels. After almost 4 months of price action, the FRVP shows price is now at the Value Area High (VAH), which also lines up with the 0.618 Fibonacci level of the current trend. If sellers decide to begin taking profit here, this would be an excellent level to develop market structure before the next push lower. The Momentum Signal In addition, the daily RSI is reaching overbought conditions, which is the first time SpaceX has done this in its history. If trend momentum begins to fade around these levels and the RSI starts rejecting from overbought, this would be a clean market structure high to put in before more structure develops at lower levels. The Levels Below The lower levels to focus on right now are the Point of Control (POC), the solid black line around $150 where the majority of volume has traded, and the $130 level below it which represents the Value Area Low (VAL), the solid red line. The Bigger Picture I still believe a lower low in price could be established, which depending on where trend momentum is at, could actually be a very bullish signal. I mentioned this possibility in a past idea, and I believe this scenario remains on the table if a local high forms here: Of course, price has only just reached this supply zone, so sellers still have to prove they can dominate it. I would love to hear everyone's thoughts on where you believe price could go in the short term. Let me know in the comments below!