Week 41 of 52 | SPCX Is This Finally the Breakout?Space Exploration Technologies CorpBATS:SPCXRobert_V12SPCX is sitting at one of the most important levels on the chart since the IPO. The stock closed Friday at $158.96, up 7.35%, after trading as high as $159.84. Volume also increased sharply, which makes this breakout attempt more interesting than a simple low-volume move. The chart has been building toward this for weeks. After reaching an all-time high around $225, SPCX sold off hard and eventually found support near $108. From there, the structure started to improve. The stock stopped making lower lows, began forming higher lows, and eventually recovered the $150-$152 area. That zone is important because it previously acted as resistance. Now the question is whether old resistance can become new support. That is why I marked the $150-$152 area as Previous Resistance -> Support? If buyers can keep defending that zone, the short-term structure remains constructive. But for me, the real breakout confirmation is still $160. Friday’s high reached $159.84, basically right below that level. So SPCX is now sitting exactly at the point where the chart could start moving into a new range. A clean break and hold above $160 would put the next major area around $168-$172 in play. From $158.96: $168 = around +5.7% $172 = around +8.2% That is the first target zone I am watching. I would not jump straight to the ATH yet. There is still plenty of overhead supply between here and $225. But if SPCX clears $160 and then starts holding above $170, the recovery becomes much more interesting.That is also where momentum traders could start paying more attention. The fundamental side makes the setup even more interesting. SpaceX has been growing rapidly, especially through Starlink, while newer businesses are becoming a bigger part of the story. The market is clearly pricing in a lot of future growth, which is both the opportunity and the risk. That is why this level matters so much. At this valuation, momentum can work very quickly in both directions. If buyers confirm the breakout, the market may continue rewarding the growth story. If $160 rejects and SPCX loses $150 again, then this could simply turn into another failed breakout attempt. So my setup is simple. Bullish case: Hold $150-$152 Break and confirm above $160 Next target $168-$172 Bearish case: Reject $160 Lose $150 Price falls back into the previous range What I like about this setup is that we are not looking at the stock after it already made the move. We are watching the actual decision point. SPCX went from around $225 to $108, rebuilt its structure, recovered $150, and is now knocking on $160. Now the market has to decide. Is this just another rebound? Or is the next leg higher starting? $160 is the level I am watching. Not financial advice. Just sharing my view on the chart.