SpaceX shares changed hands near $137 in premarket trading on Wednesday, remaining close to the $135 initial public offering price. The equity has shown weakness in recent sessions, prompting attention from technical analysts.
A falling wedge pattern on hourly charts suggests potential for a recovery toward $158, provided buyers successfully defend and reclaim the $149 to $153 support area. The pattern indicates diminishing downward momentum that could lead to a reversal if confirmed by price action.
The developments come as investors monitor near-term catalysts for the rocket and satellite operator, including upcoming test flights for its Starship program. Market participants continue to assess the company's valuation following its public debut.
A falling wedge pattern on hourly charts suggests potential for a recovery toward $158, provided buyers successfully defend and reclaim the $149 to $153 support area. The pattern indicates diminishing downward momentum that could lead to a reversal if confirmed by price action.
The developments come as investors monitor near-term catalysts for the rocket and satellite operator, including upcoming test flights for its Starship program. Market participants continue to assess the company's valuation following its public debut.