SPCX June 17: Momentum Still Intact, But First Real Pullback Is Space Exploration Technologies CorpNASDAQ:SPCXBullBearInsights SPCX continues to be one of the strongest recent IPO movers. The 15-minute chart shows a clean stair-step trend with buyers consistently defending higher lows while pushing price into new highs. The stock closed near $199 after another strong session and remains well above the rising trendline support near $188-$190. Momentum remains firmly bullish, but after a nearly vertical move from the $160s into the $200 area, traders should be prepared for increased volatility and profit-taking attempts. For now, trend remains the friend until proven otherwise. Key Levels Support $190 $188.72 $175 $167.10 Resistance $200 $202.22 $210 $220 $235 Trade Considerations The biggest observation is that SPCX has not experienced a meaningful pullback since breaking above $175. Each dip has been bought aggressively, creating a strong trend structure. However, stocks that move this quickly often experience sharp retracements once momentum slows. The $200 level becomes the key psychological battleground for June 17. Holding above it would likely attract additional momentum traders. If buyers reclaim and hold above the recent high near $202.22, another expansion leg could develop quickly. Bullish Scenario A breakout above $202.22 would confirm continuation of the current trend. With little overhead resistance visible on the chart, momentum could carry price toward $210 first and potentially $220 if volume remains elevated. If FOMO buyers return and market conditions remain supportive, a move toward $235 cannot be ruled out. Bullish Targets $202.22 $210 $220 $235 Bearish Scenario The first warning sign would be losing $190. That would likely trigger profit-taking from short-term traders and create a pullback toward trendline support around $188.72. If sellers break that area, downside could accelerate toward the prior breakout zone near $175. Bearish Targets $190 $188.72 $175 $167.10 Volume Outlook Volume remains the most important factor. As long as SPCX continues producing elevated volume on advances and lighter volume during pullbacks, the uptrend remains healthy. A sudden surge in volume combined with a failed breakout above $200-$202 would increase the probability of a larger retracement. Conclusion SPCX enters June 17 with bulls still firmly in control. The stock remains in a strong uptrend, trading near all-time highs, and showing no significant technical damage. Above $202.22, momentum could accelerate toward $210 and potentially $220. Below $190, expect the first meaningful pullback attempt toward $175 support. Until that happens, buyers continue controlling the trend. My focus Monday: Watch the $200-$202 zone. If SPCX can turn that area into support, the next squeeze higher could be very aggressive.