TradingKey - Early in the morning on October 13 local time, SpaceX (SPCX) used a Falcon 9 rocket to launch a Dragon cargo spacecraft into orbit for NASA's 35th Commercial Resupply Services mission (CRS-35). After lifting off from Cape Canaveral Space Force Station in Florida, the rocket left a large glowing trail across the pre-dawn sky, creating a striking phenomenon resembling jellyfish tentacles that many onlookers dubbed a "space jellyfish."

CRS-35 lifted off from Space Launch Complex 40 at 6:33 a.m. Eastern Time. Loaded with over 6,300 pounds of scientific research equipment, crew supplies, and space station hardware, the Dragon cargo spacecraft is scheduled to autonomously dock with the International Space Station's Harmony module after approximately 52 hours of flight.

One of the most important payloads of this mission is the final set of roll-out solar arrays for the International Space Station. Once installed, the new arrays will further boost the space station's power generation capacity, providing energy support for scientific experiments, daily operations, and a future controlled deorbit. The spacecraft also carries research projects covering artificial retinas, microgravity materials, and life sciences.

The Dragon spacecraft executing this mission had previously completed three spaceflights, while the Falcon 9 first-stage booster was making its eighth flight. After stage separation, the first-stage booster returned to the Cape Canaveral landing zone, demonstrating SpaceX's ability to lower launch costs and shorten mission turnaround cycles through hardware reuse.

This launch not only demonstrated Falcon 9's mature mission execution capabilities, but also once again proved SpaceX's key position in the International Space Station cargo services market. However, the successful launch failed to boost the stock price. On October 13, SpaceX (SPCX) closed down 4.21% at $156.54, after touching an intraday low of $156.05.

Source: TradingView

From the daily chart, SPCX dropped 4.21% to close at $156.54, confirming a breakdown below the $160 psychological level. The stock had previously surged to $172–$175 before pulling back continuously, indicating that the successful completion of the mission failed to bring sustained buying, as the market took some profits.

Currently, the stock price remains slightly above its 20-day moving average of $155.82 and significantly above its 60-day moving average of $140.98, so the medium-term uptrend structure remains intact for now. However, the level around $156 has become a key defensive position. If the stock closes below the 20-day moving average for consecutive sessions, the short-term adjustment could widen further to $150–$152, with subsequent attention on $145 and around the 60-day moving average at $141.

To the upside, the stock first needs to reclaim $160–$162, a zone that has turned from support into resistance. If it holds above $162 on heavy volume, the stock could retest $166–$168; a further breakout would provide an opportunity to test the high of $172–$175 again. Only a valid daily breakout above $175 can open up room toward $185 or even $200.

The RSI has pulled back from near 70 to 52.07 and fallen below its smoothed signal line of 57.43, indicating that upward momentum has cooled significantly, though it has not yet entered oversold territory. This implies that the stock price may continue to consolidate, with no clear oversold rebound signal formed just yet.

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