TradingKey - SpaceX (SPCX) has shown a clear rebound in stock performance recently. On September 3, SPCX surged 6.42% on heavy volume to $149.74, hitting an intraday high of $152.30; on September 4, it pulled back slightly by 1.20% to close at $147.95. Notably, while the three major US stock indexes all fell last Friday, SPCX saw only a minor pullback, still largely holding its breakout level following the previous session's sharp gains.

SPCX daily stock price chart, Source: TradingView

Looking at the daily chart of SPCX's stock price, the stock formed a short-term bottom above $105 in early August, after which its lows continuously shifted higher. The sharp rise on September 3 pushed it to a new two-month high, with trading volume reaching approximately 121 million shares on that day, noticeably higher than the recent average, indicating that the breakout was backed by capital inflows.

Meanwhile, the moving average structure has also begun to strengthen. As of September 4, the 5-day, 10-day, and 20-day moving averages were $144.86, $141.93, and $140.95, respectively, with the stock price climbing above all these short-to-medium-term moving averages. The latest 14-day RSI is at 58.47, entering a relatively strong zone without being clearly overbought, while MACD momentum also remains positive.

Currently, the stock rose sharply last Thursday, briefly breaking above $150 intraday. Although the closing price failed to hold firm above $150, the moving higher of the candlestick highs indicates that market sentiment leans bullish. PCX has recently encountered selling pressure twice above $150; if it can hold above $155 on heavy volume, it would signal a further escalation of the rally since August, with the next target at $160–$165.

On the downside, the primary support to watch below is the $145–$140 range. If the stock price stays above $140, the short-term uptrend structure remains intact; if it breaks below $140, it may pull back further toward the $130 support level.

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