SPCE 的看涨逻辑由技术面对供给的吸收以及基本面叙事向数据中心的转变所驱动，目标价 190。

Uh, so here's what we saw in SPCE.X. Um, you had a an enormous area of overhead supply right here at one between 150 and over 155. And we said, and we said back here that there was a character change in SPCE.X. It stopped It stopped going down.

So, this is your overhead supply zone. Okay, right here. Uh, in between 150 and 155. And back in August, it made a higher low. Then it made a secondary higher low in September.

We said, "Okay, we're now in an absorption mode, right?"

Right here, we're we're starting to absorb uh uh, supply. And I said, "Once we get a a bit above 155, this thing is very likely going to run to what? 174." What's 174? Uh, your your top of value, right?

This is where sellers find fair value. And the auction just uh, took it there.

Um, so now we are um Now we're right here. We're into uh We're looking at the next leg of the move. We have leg one, leg two. Uh, the next leg should be to the 190 area.

I think Elon is doing a lot of the right things. Uh, there've been a lot of catalysts There've been a lot of catalysts lately for SPCE.X uh, that the market had um had not really called out.

First, we had the uh um Adam Jonas. Um Uh, Adam Jonas came out and issued a heavily publicized note titled SBC X 159 cheaper and getting cheaper reiterating an overweight rating with a $300 price target.

Uh, Jonas noted the stock uh, uh, looks uh, he said um, he says uh, such an Adam Jonas quote. He said, "It looks expensive on a conventional metric."

so he gave it a $300 price target. He says it's incredibly cheap relative to its growth trading at um, uh, trading at just uh, 0.3x of its EV to EBIT growth ratio. He warned that investors only have um, a brief window to buy more massive catalysts uh, before the uh, next few weeks unfold and trigger more catalysts and he was actually correct.

we also saw a much higher expansion into super intelligence in the data center that the market had previously priced in. Uh, so the the the SpaceX narrative is getting very quickly rewritten here.

Um, so it's not just seen as a rocket launcher sort of fairy tale or space company uh, as much as it was before even though that business was going really well. Uh, but anyways, so big change of narrative in in SpaceX now really being seen as a major contender in the uh, in the in the in the data center space for infrastructure.

Yeah, so for for me the the key because I was I was massively short from from 160 here just based on the the fundamentals of the matter and I said no one's no one's going to defend the 150s given all the dilution they got coming up ahead and the market agreed with me and you know, bottomed out here at one around 190.

I left a little which uh, which I trailed out on my on my short, but this was a just a mega short for our room for our trading room,

but then you could see that the sentiment shift here coming in in September where we broke through the anchored view up. This is a period high anchored view up and we just started consolidating here and they really couldn't get it past 145, 143 and you could see that the steady buying here on volume every time it came to the anchored view up and that's really what convinced me that we're likely going to get one more shakeout once the 200 caught up.

And uh that we were likely going to put see this leg right here. Right? The measured move is right there. So I thought, "Okay, this is leg one, consolidation and leg two." And that's kind of what I was looking at.

and I think a lot of people got caught short uh just cuz the you know, the dilution the dilution looks so horrible and and the past couple of days we've just been getting a mega squeeze. Mega squeeze higher.