SpaceX stock crashed to $108.27, its lowest point ever, after investors bolted over the company's massive artificial intelligence spending plans. The 11% plunge came despite the space firm beating quarterly earnings estimates in its first earnings report as a public company. Wall Street's concern wasn't about weak business results. It was pure capex shock: SpaceX disclosed $18.4 billion in AI capital expenditure, and the market didn't like what it saw.
The Numbers Don't Match the Fear
Fundamentals looked solid on paper. Revenue beat estimates, operations ran smoothly. But investors fixated on one thing: where all that AI money was going and whether it would actually pay off. The sell-off erased months of gains in a single session, dragging the stock below every major moving average. Price now sits under the 20-day average at 123.46, the 50-day at 133.77, and the 200-day at 136.70. That stacked arrangement spells textbook bearish alignment.
Technical Signals Show Room to Fall
The momentum meter tells an interesting story. RSI14 sits at 41.26, weak but not yet oversold. That leaves space for further downside before any bounce becomes statistically probable. MACD shows downward momentum easing slightly, but that's a pause, not a reversal. Bollinger Bands paint pressure from above, with the lower band at $98.74 as the next logical target if selling continues. Daily volatility hit $9.18 per move, meaning multi-point swings are standard right now.
Key support holds at $104.12. Break below that and the $98.74 zone becomes the next floor. Both daily and hourly charts align bearishly, reinforcing the downtrend's durability. For traders watching this, the message is clear: momentum hasn't shifted yet, just slowed. That distinction matters for anyone considering a bottom-fishing trade.
This analysis is informational only and does not constitute financial advice. Consult a qualified advisor before making investment decisions.
