Analyst: SpaceX Stock Faces Strong Resistance at $165, Could Retreat to $149 Range if Pressure Continues

Analyst Ali noted on X platform that SpaceX's stock price has now touched the key resistance level of $165, which is considered the top of its channel. As long as the $165 level is not effectively breached, the short-term trend remains biased towards downside risk, with the price potentially falling to $157, or even further down to the lower channel boundary around $149.

Ali added that if the price can effectively break through and hold above $165, it would negate the current bearish structure and could open the door for an upward move, with the target set near $180.