SpaceX stock traded near $137 in Wednesday’s premarket, just above the $135 IPO price and Tuesday’s record low of $135.52. Still, a falling wedge on the hourly chart suggests a rebound to $158 may be forming.

Space Exploration Technologies Corp. (SPCX) has fallen almost 40% since its June 16 peak of $225.64. Thursday’s Starship Flight 13 launch could decide whether the pattern plays out.

SpaceX Stock Loses Two Key Support Zones in Four-Week Slide

The daily chart shows three consecutive red sessions, with SPCX closing at $136.08 on Tuesday, down 2.20%. The decline from the June 16 peak now measures $89.60, or 39.69%.

Sellers broke the $168 to $171 support zone in mid-June. A rejection near that area on July 1 confirmed it as…