SPCX is technically bullish and poised for a breakout to 174 within days upon clearing 155 resistance.

space looks SpaceX looks absolutely beautiful right now and SanDisk also looks like it's about to really go crazy it's it's up almost 7% today but um let's start with SpaceX because this is obviously our our audience is named dour Like I don't know what it says about retailing traders and investors but like by far the T3 live audience the number one stock they are obsessed with right now is SpaceX.

So Sammy I will start with you since you've been loading the boat with this in the number one's newsletter. And now as an expert technical analysis I will say it just keeps going up and to the right and I think that's good.

Am I correct? I I know but look at how it keeps getting rejected also like it popped yesterday to made new highs cleared the the top of the the daily base and then got slapped even though yesterday was a very very bullish day.

So ultimately when it tried to go lower it got you know got rejected and got bought. So, I think it's higher, but it's a very slo I mean it I I wish it wasn't so sloppy. Every day every day is like it's got a tail on on the daily chart.

On the daily bar, there's a tail. So, I wish it wasn't I wish it was a little bit more definitively bullish. I mean, I'm in it and I'm a little bit worried about it because it's keeps putting these reversal bars like yesterday's bar, the day before, the day before that.

They're all like dogee bars or reversal bars. So hopefully eventually goes higher. I raised I went ahead and raised my stop to the red bars low which is 14280 on the daily chart.

So I don't have my chart. I mean I'm not showing my plat my charts. I can but uh to me it's it's not the prettiest chart. It was looking pretty but it's not the prettiest.

SpaceX look. I'm super bullish on the chart. The um ... So this is 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, right? We get a close about 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. So 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 ascent.

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 try 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. They 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. That's my story and I'm sticking to it.

Okay. Uh Jr. I want to wind back with you to SpaceX for one second because I think that this is a good comment. Been on Wall Street for 34 years. 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 uh 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 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 of 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 you were 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?

All right, let us know down in the chat below. Do you like SpaceX? Type a yes or no. I feel like every day I regret not buying it. I don't know what it is. I'm just like tempted by SpaceX like every single day.

Didn't you get it when it went IPO before? Like >> I did. I got a little bit and I ended up selling it for very very small profit. Nothing to write home about. in like I knew I should have bought him lower, but what are you gonna do? You can't can't win them all.