SPCX is poised for a technical breakout to at least 174 if it closes above 155.

So those are just the volume profiled out from the IPO. And what you can see here is your highest volume node is around 152 and a quarter and now it's acting as support. We get a close above above 155 and this pony is going to go.

So that's what I'm waiting for. I need a price acceptance over 155.

We're going through a cycle of um basically overhead supply absorption from from the IPO. people bought the dip, did the 152s, they bought the dip again and then they the breakout failed here which create a whole lot of overhead supply on left side.

Um, in my opinion, just looking at this chart is once you once you get through 155, you get press acceptance above it. You can see the volume profile to the left here is much thinner, right?

Indicating potentially uh a lot lower red supply and a thinner profile would probably indicate a faster. So, I think we're on the on the brink of a technical breakout here.

Uh, every day that it breaks 155 is um even 152 is free money. like you just you drive buy just buy it for a dollar or two and you make free money.

But uh we haven't we haven't had that price acceptance. There's still sellers here. So they're you know they're letting it come up and then they're they're uh absorbing that supply and bringing it back down.

But you can not you'll notice here what's important is the higher lows. You have higher lows everywhere now to the left. And that uh you know the the the lows are higher. They're not coming back to the anchored VWAP.

Okay? They're they're consolidating here. This could form a wedge. It could form a a pennant, a flag eventually. We don't know.

But what we do know is that um there's been a a change of character here and we're on the brink in my opinion of a technical breakout to at least 174 in the next few days. That's my opinion.

He's talking about SpaceX. I own quite a bit for friends and family. JR is right. Technically the stock is fine but clearly the issue is just the insider overhead.

Now Jr. do the do the technicals for you override the concerns about the insider selling because is it just a situation where it's like the chart says this so just forget everything else.

Look, I'm I'm primarily a technical trader, but if somebody tells me, you know, if you open that closet, there's going to be a zombie in there, you know what I mean? Like, that's some fundamental information that I'm going to uh that I'm going to keep in mind.

Now, what's been happening with with SpaceX, okay, is the the fundamental information the market is processing does not match the price action. And um to quote my uh to quote one of the uh pioneers of price action, price is truth. The chart is truth in the end.

I if you're told, listen, uh we're only we've we've only unlocked what is it 7% of the float. There's an avalanche of selling coming and uh you're high you're holding a higher pivot low on a positive delta in terms of volume.

It means you're you're buying more than you're selling and you're basing for a breakout. The chart is right ultimately, but uh you know I I I think fundamental information is important in as far as it can guide me in terms of what other traders may be thinking, what how they may be behaving and what how the narrative may may unfold.

So I think paying attention to fundamental data is important in as far as that is concerned. But like clearly here, you know, I shorted I shorted SPCX at 160, covered a bunch at the lows and like clearly that trade idea is no longer working.

So you have to be humble enough to say like, okay, the chart's telling you something else now, dude. You know, you got you're wrong or you were right for a while, but now you're no longer right.

And you have to uh just adjust. And ultimately like the last bastion of decision-m for me is always the the chart, you know.