to leave a comment.
▲ SpaceX (SPCX), Dollar (USD)/AI generated image
A single remark by U.S. President Donald Trump shook SpaceX (SPCX) stock, bringing the possibility of an additional 20% rebound to the forefront of the market.
According to cryptocurrency media outlet Coingape on July 3 (local time), SpaceX stock rose to $162, a 3% increase. The stock, which had shown weakness early in the trading session, rebounded as buying interest re-entered, and investor interest grew after Trump mentioned the possibility of Elon Musk donating stock.
In a CNBC interview, Trump said he believes Musk could donate SpaceX stock to the Trump Accounts program. He stated that he had not spoken with Musk recently but described their relationship positively. He then cited examples of business leaders such as Micron and Michael Dell sponsoring children's investment programs.
The Trump Accounts initiative aims to create investment accounts for children and allow external contributions. According to Treasury Department guidelines, publicly traded stocks can also be included as contributions, the media reported. However, since neither Musk nor SpaceX has announced a final donation plan, investors showed a tendency to price in the potential news first.
SPCX closed at $162, up $4.46 on the day. The stock started at approximately $155 and then rebounded as buying interest defended the $157.54 demand zone. Afternoon trading volume increased, breaking through the $160 level, and in late trading, it approached the resistance level near $162.5.
In after-hours trading, it retreated to around $160.95, but the media analyzed that if it maintains above $160, the short-term structure could remain positive. Coingape set $165 as the initial breakout threshold. If the daily closing price exceeds $165, $180 becomes the next target, and if strong follow-up buying occurs, it could open up to $195.
However, optimism is predicated on maintaining support above $160. A further decline below $157 would weaken upward momentum, increasing the likelihood of retesting $155 over the next few trading days. SpaceX stock secured short-term buying sentiment due to Trump's remarks, but breaking $165 and defending $157 remain key price levels that will determine the next direction.
[Article Key Summary]
-SpaceX stock rose 3% to $162 after Trump mentioned the possibility of Musk donating stock.
-Buying interest defended the $157.54 demand zone, and late in the session, the stock approached the resistance level near $162.5.
-Coingape analyzed that a breakout above $165 could open up the $180 and $195 zones, but a break below $157 increases the likelihood of retesting $155.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
Newsletter
Get key news delivered to your email every morning
to leave a comment.