The SPCX (Space Exploration Technologies Corp, aka- SpaceX) swing trade took out both the first price target & downtrend line, and has hit the second price target (T2) for a quick 6% profit. SPCX appears to be forming a potential bullish pennant (or bull flag, if it drifts a bit lower) continuation pattern. Depending on your trading plan, consider booking partial or full profits and/or raising stops if holding out for any of the additional price targets. Previous & updated 30-minute charts below.
SPCX 30m July 28th
SPCX 30m 2 July 28th
As covered in the video uploading now & soon to be published, upon further review of the charts, I’ve added an additional price target around the 125 support, which comes in around the measured target of the flag/pennant pattern, should it trigger the next buy signal with an impulsive breakout above the pattern & go on to play out with another impulsive leg higher.