$SPCX price continuously stalls at the previous high, then accelerates into a downturn. At the moment, the market is under pressure from the short-term moving average system diverging downward.
$SPCX - Empty
Trading plan:
Entry: 142.0 - 142.5
Stop Loss (SL): 145.5
Target 1 (TP1): 138.0
Target 2 (TP2): 134.0
Target 3 (TP3): 130.0
Why go short?
After the price rebounded to around 149.49, it met clear resistance and has already pulled back, breaking below the Bollinger Band middle line. As the rebound highs gradually decrease, the focus of the market is shifting downward. The upside pullback strength is extremely limited. As long as it cannot effectively break above and hold the 145.5 defensive zone on strong volume, this newly established weak structure will very likely continue seeking support further down. The risk-reward ratio of following the trend to go short remains favorable.
Click here to trade👇
$SPCX - Empty
Trading plan:
Entry: 142.0 - 142.5
Stop Loss (SL): 145.5
Target 1 (TP1): 138.0
Target 2 (TP2): 134.0
Target 3 (TP3): 130.0
Why go short?
After the price rebounded to around 149.49, it met clear resistance and has already pulled back, breaking below the Bollinger Band middle line. As the rebound highs gradually decrease, the focus of the market is shifting downward. The upside pullback strength is extremely limited. As long as it cannot effectively break above and hold the 145.5 defensive zone on strong volume, this newly established weak structure will very likely continue seeking support further down. The risk-reward ratio of following the trend to go short remains favorable.
Click here to trade👇