SpaceX falls nearly 46% from its peak assessing Starship impact Space Exploration Technologies CorpBATS:SPCXActivTradesSpaceX falls nearly 46% from its peak as the market assesses the impact of Starship Ion Jauregui – ActivTrades Analyst SpaceX (NASDAQ: SPCX) closed Friday’s session at $123.99, below its $135 IPO price for the first time since its market debut, as investors assess the impact of delays to the Starship program and the sharp correction recorded from its initial highs. The company, which reached an all-time high of $225.61 shortly after its market debut, has accumulated a decline of more than 45%, after selling pressure significantly reduced its market valuation from the highs reached following the initial public offering. In overnight trading, the stock is attempting to stabilize around $125.51, although it remains below the $135 level, a relevant technical and psychological reference as it coincides with the IPO price. The deterioration in sentiment accelerated after SpaceX aborted the thirteenth Starship test flight minutes before launch. The automatic system interrupted the operation after detecting issues during the ignition sequence of several Raptor 3 engines on the Super Heavy booster. Elon Musk later confirmed that two engines will need to be replaced before the next launch attempt. The incident increases pressure on a program considered a key component of SpaceX’s future valuation, as Starship is designed to expand the company’s launch capabilities, support Starlink’s growth and develop new commercial applications in the space sector. The share price was also affected by the circulation of information later denied by Musk regarding an alleged $52 billion contract involving Foxconn and Nvidia, which the entrepreneur described as false information. The clarification allowed for a partial recovery in pre-market trading, although it did not alter the stock’s bearish structure. Market positioning also reflects significant selling pressure. Nearly 49% of the free float is reportedly being lent for short-selling operations, according to market data, allowing bearish investors to accumulate approximately $8.7 billion in potential profits from the highs reached after the IPO. Technical Analysis From a technical perspective, SpaceX maintains a corrective structure after losing the support level at $135. The Volume Point of Control (POC) is currently located around $158.85, slightly below the 38.20% Fibonacci retracement level at $161.79. This area coincides with the previous support range between the 25% Fibonacci level at $148.16 and the 38.20% retracement, making it the main technical resistance zone. A recovery of the $148-$162 range would be necessary to improve the short-term structure, while the $135 level represents the first relevant resistance after losing the IPO price. Momentum indicators continue to show weakness. The MACD maintains both the signal line and the moving average below the histogram, which remains in negative territory, although with a slight moderation in bearish pressure following the recent sharp correction. The RSI stands at 25.34%, reflecting highly oversold conditions. Although this level may support short-term technical rebounds, it does not necessarily indicate a trend reversal while the price remains below its main moving averages. The moving average structure confirms a corrective trend, with a sequence of lower highs and lower lows since the all-time high of $225.61. The ActivTrades US Market Pulse indicator shows that, after several sessions of strong bullish moves, the asset is currently in a neutral risk zone, reflecting a loss of momentum following the sharp adjustment recorded. Key Upcoming Catalysts The market remains focused on SpaceX’s upcoming operational milestones, particularly the new Starship launch attempt, scheduled after technical corrections were made to the propulsion system. A successful execution could help reduce bearish pressure and support a recovery toward lost technical levels. However, further delays or operational issues could maintain pressure on a stock that is currently trading below its initial market price. Until SpaceX manages to recover the $135 level, the technical structure will continue to favor sellers, although the elevated level of short positioning could increase volatility in response to any positive news. ******************************************************************************************* The information provided does not constitute investment research. 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