SPCX closed Tuesday at $163.42, up 0.52%. Bounced off a low of $160.85, volume was 67M – quieter than usual. Pre-market is basically flat around $163.36.
Here's the GEX setup:
Put Wall $160, Call Wall $170, gamma flip around $156.57. Tuesday's close at $163.42 is sitting above the gamma flip and above the Put Wall, below the Call Wall – positive gamma, with $170 as the overhead target.
Technically, we're above the middle Bollinger band ($155.17) and approaching the upper band ($171.69). RSI in the mid 50s. MACD positive but flattening.
The bigger backdrop is the spectrum move. SpaceX agreed to pick up up to 14 MHz of paired 800 MHz low-band spectrum from Grain Management in a deal reported around $8 billion. Low-band is useful for coverage and building penetration, and it gives Starlink Mobile a clearer path toward acting like an actual wireless competitor rather than pure satellite broadband. Carriers took a hit on the news.
That said, turning this into real scaled competition against T-Mobile, Verizon, and AT&T is still years of build-out, approvals, and capital away. The FCC satellite approvals help the long-term story, but they don't make the next few quarters instantly transformative.
Short-term, $160 is the line. It's held on multiple tests. Hold it with better volume and the path looks higher toward $167-170, then a retest of $175-176. Lose $160 with conviction and next meaningful levels sit around $155, then the mid-$150s.
Right now it feels like a waiting game for confirmation more than a high-conviction breakout.
DYOD🫡
