TradingKey – As of October 13 ET, SpaceX (SPCX) stock fell 4.21% to $156.54, hitting an intraday low of $156.05. The stock price has now dropped below the $160 mark and the 10-day moving average (around $161.16). However, it remains above the 20-day moving average (around $156) and is significantly higher than the 60-day moving average ($140.98), indicating that short-term momentum has weakened, but the mid-term rebound structure has not been broken.

SPCX daily stock price chart, Source: TradingView

Meanwhile, technical patterns show that the daily candlestick structure of the stock price is forming a relatively clear potential head-and-shoulders bottom pattern. The left shoulder is located near the June 23 low of $147, and the head is at…