Space Exploration Technologies Corp. (NASDAQ:SPCX) shares are carrying Thursday’s losses into Friday. A last-second abort of the Starship test flight left the stock sitting comfortably below its $135 IPO price.
- SpaceX stock is at significant support. What’s pressuring SPCX?
Engine Failures Force a Last-Second Starship Abort
The damage began during Thursday’s session when the stock shed 3.08% before sliding another 3.08% in after-hours trading to close at $127.07. The catalyst was a launch termination that came with mere seconds remaining on the countdown after four of Starship’s 33 Raptor engines refused to fire. The remaining 29 engines cut out automatically in response and ground crews began draining propellant from the vehicle shortly after.
Musk took to X to explain that two of the faulty engines would be pulled from the rocket entirely and swapped out before another window is attempted, with early next week identified as the earliest realistic opportunity for a second try.
The scrubbed mission had been carrying significant expectations. The test now waits for another day, pushing back a milestone that investors and the broader space industry have been watching closely.
SPCX’s Short-Term Challenges
Zoom out and the longer‑term structure still looks constructive. Zoom in and the near‑term picture is under pressure. SPCX is trading 18.4% below its 20-day SMA $151.60, a clear sign that the latest leg higher has cooled and sellers have controlled the short window. It remains well above the 50-day SMA $87.01 and far above the 200-day SMA $39.28, which keeps the bigger trend bullish even if the stock is acting like it wants to test investor patience.
Momentum is driving the conversation. MACD is below its signal line and the histogram is negative, which signals fading upside thrust unless buyers can reassert control. The moving‑average stack still leans supportive over time with the 20-day SMA above the 50-day SMA and a June golden cross where the 50-day SMA moved above the 200-day SMA. Those conditions often encourage buy‑the‑dip behavior when pullbacks deepen.
Price action is not cooperating with textbook setups. The stock is now below the 52-week low $130.74 and well off the June peak at $225.64, so rebounds are likely to be treated as prove‑it rallies until SPCX can start reclaiming shorter‑term levels.
Key levels are straightforward. $135.82 is the first meaningful hurdle, sitting near the 20-day EMA and acting as a potential trend reset line after a sharp drop. On the downside, $126.30 is the immediate battleground, especially with price trading below the prior $130.74 zone. This area is where bulls may try to defend before the narrative turns more negative.
SPCX Shares Are Declining
SPCX Price Action: SpaceX shares were down 3.90% at $126.00 at the time of publication on Friday. The stock is trading at a new 52-week low, according to Benzinga Pro.
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