TradingKey – As of pre-market trading on August 11, SpaceX (SPCX) closed at $138.74 in its latest session, up 4.2% on the previous trading day. Since hitting a low of $104.83 on August 3, SPCX has rebounded by approximately 28%, reclaiming its $135 IPO price, with its short-term technical structure showing significant improvement.

SPCX daily stock price chart, Source: TradingView

Looking at the daily chart, SPCX previously pulled back continuously from a high of $225.64, with a maximum decline of over 50%, forming interim support near $105. The stock price has recently mounted a consecutive rebound, breaking through $135 and short-term moving average resistance, indicating that the market is transitioning from an oversold bounce to trend…