SPACEX: Down more than -20%. Really, you didn't see that coming?Space Exploration Technologies CorpBATS:SPCXInvestingScopeSPCX has turned neutral on its 1H technical outlook (RSI = 50.098, MACD = 14.920, ADX = 34.249), following the massively overbought readings of its first 3 trading days that made it rise by +50% from $150 to $225.64. Having immediately entered the top 10 of global companies with the highest market cap and making Musk the world's first trillionare, that euphoria was never meant to last. Now down by -23.60% from its High and on the 0.618 Fibonacci, the market will start revealing its true valuation. And based on almost all of the high cap, blockbuster tech IPOs historically, that should be significantly lower in the coming months. The first obvious TP should technically be the S1/opening price of $150. That would represent a -33.50% drop from the High. Going further into the Summer, we expect as some point to even reach the $117-113 range, which would be almost a -50% decline, around the 1.618 Fibonacci extension. Then we can discuss about making a long term investment on SpaceX. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##