SPCX Jun 22: Dead Cat Bounce or New Base?Space Exploration Technologies CorpNASDAQ:SPCXBullBearInsights SPCX remains one of the most volatile names in the market following its explosive IPO launch. After reaching a high near 200, the stock experienced a sharp selloff before finding support around 172. The recent recovery bounce has improved short-term sentiment, but the overall trend remains bearish until key resistance levels are reclaimed. The 15-minute chart shows SPCX attempting to build a base between 175 and 182 after the recent flush. Buyers stepped in aggressively near the lows, producing a strong rebound toward 188, but sellers quickly regained control and pushed price back below major resistance. Monday's session will likely determine whether SPCX is establishing a tradable bottom or preparing for another leg lower. Key Levels Resistance: 182.00 Resistance: 188.00 Major Resistance: 190.00 Resistance: 195.00 Major Resistance: 200.00 Support: 178.00 Support: 175.50 Major Support: 172.00 Support: 167.00 Major Support: 162.50 Trade Considerations The most important observation on the chart is that SPCX remains below both descending trendlines. The upper descending resistance near 188-190 continues acting as the primary barrier preventing a larger recovery. Every rally attempt has been rejected beneath this zone. At the same time, the stock has stopped making new lows and is beginning to stabilize above 175. This suggests selling pressure may be slowing after the post-IPO unwind. Volume remains elevated compared with normal stocks, which means large intraday swings should continue. Bullish Scenario Bulls need to reclaim 182 first. A breakout above 182 would likely trigger momentum buying toward 188. If 188 breaks, the next major test becomes 190 where the descending resistance trendline intersects. A close above 190 would be the first meaningful signal that the downtrend is weakening and could open the door for a move toward 195 and eventually 200. Bearish Scenario Failure to hold 178 would place sellers back in control. The first downside target would be 175.5 followed by the major support zone at 172. If 172 fails, the recovery structure breaks down and the next downside targets become 167 and 162.5. Because SPCX has limited trading history, support levels can fail quickly once momentum shifts. Trading Outlook This remains a trader's stock rather than an investor's stock. The cleanest setup is waiting for either: A confirmed breakout above 182 with volume. A pullback into 172-175 support that holds. Anything between 178 and 182 is likely to remain choppy and headline-driven. Bullish Targets 182.00 188.00 190.00 195.00 200.00 Bearish Targets 178.00 175.50 172.00 167.00 162.50 Conclusion SPCX is attempting to build a base after its sharp post-IPO decline, but the stock remains below key descending resistance near 188-190. Bulls need a breakout above 182 to gain momentum and challenge 190. Bears remain in control below 188, with 172 serving as the most important support level. Expect continued volatility and oversized intraday moves as price searches for a sustainable range.