SPCX / SpaceX: Waiting for Downtrend Line Breakout + Retest ConfSpace Exploration Technologies CorpBATS:SPCXAuthorsFlowSPCX / SpaceX Technical Analysis SPCX failed to continue higher after the first entry area around $166 and has now broken below the previous triangle support. Because of that, the previous short-term bullish structure should be treated as invalid for now. On the 1H chart, price is still trading below the downtrend line, so there is no clean bullish confirmation yet. This is not an area to average down emotionally or chase without structure. Current key setup: The second entry would only become interesting if price breaks above the downtrend line and completes a proper retest. I am not waiting for price to return all the way to the previous resistance before considering the second entry. The cleaner structure would be: 1. Break above the downtrend line 2. Retest without breaking back below it 3. Form a higher low 4. Show a clean bullish reaction after the retest If this structure appears, the second entry setup becomes more reasonable. If price fails to break the downtrend line and continues to get rejected, this area remains a no-trade / wait-and-see zone. Today’s news is more positive on the surface. Wedbush initiated coverage on SpaceX with an Outperform rating and a $190 price target, showing that some institutions still believe in the long-term SpaceX story. However, there are still risks in the background, including valuation pressure, potential future share supply, and increasing competition in reusable rocket technology. So the news can support sentiment, but it does not replace technical confirmation. Current plan: No averaging down. No chasing without confirmation. Wait for downtrend line breakout + retest confirmation. Not financial advice. Just my technical analysis and trading plan.