What Does SpaceX's Technical Setup Look Like On This Momentous Day?

SpaceX initiated with an Overweight at JPMorgan... SpaceX initiated with an Outperform at Macquarie... SpaceX initiated with a Buy at Clear Street... SpaceX initiated with a Strong Buy at Raymond James... SpaceX initiated with a Buy at BofA... SpaceX initiated with a Neutral at MoffettNathanson... SpaceX initiated with an Outperform at William Blair... SpaceX initiated with an Outperform at Bernstein... SpaceX initiated with a Buy at Needham... SpaceX initiated with an Outperform at RBC Capital... SpaceX initiated with a Buy at Citi... SpaceX initiated with a Buy at UBS... SpaceX initiated with a Buy at Stifel... SpaceX initiated with an Overweight at Morgan Stanley... SpaceX initiated with an Outperform at Mizuho... SpaceX initiated with an Overweight at Wells Fargo... SpaceX initiated with a Buy at Goldman Sachs...

Median price target is 225... with SPCX trading at 159.50 as we speak...

What does the technical setup look like on this momentous day?

For all of the excitement surrounding SPCX ahead of today's open, the chart setup argues that all of the price action from the 6/23/26 low at 147.11 has carved out a bearish digestion period and pattern that, when complete, should resolve itself to the downside in a downleg that projects to a target window of 130, which if reasonably accurate, means that ahead of the next bull run, SPCX will test and marginally violate its IPO price of 135.00 (6/12/26).

Only a rally that takes out resistance at 176.14 on a closing basis will invalidate my currently "corrective" pattern outlook... Last is 158.99...