Here’s how to get early exposure to SpaceX Shares $XOVR – February 4, 2025
This is Scott at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. I want to take a look at an idea I can’t take credit for. One of our members at Stock Market Mentor actually posted, in our forum, about this entrepreneur private public crossover ETF, XOVR
What makes this unique as an ETF is, this ETF is a holder of SpaceX shares. Just over 170,000 shares of SpaceX at a value of around 33 million dollars. This is not, evidently, the biggest fund that has SpaceX. There are others, but I actually like the chart pattern on this one. I’ll show you that in a second, but it doesn’t just hold SpaceX shares.
They have some well-known names that I know you know, Alphabet ( NASDAQ: GOOG ), Meta ( NASDAQ: META ), NVIDIA ( NASDAQ: NVDA ), Oracle ( NYSE: ORCL ), Salesforce ( NYSE: CRM ), Applovin ( NASDAQ: APP ), Robinhood ( NASDAQ: HOOD ), DoorDash ( NASDAQ: DASH ).
This has a bit of a diversified basket of companies. As you can see from the slide here, they focus mainly on entrepreneurs and well-known entrepreneurs. This, in my opinion, is a pretty unique asset to pay attention to, and it also looks pretty good here on the chart. If the technicals weren’t in line I wouldn’t be covering this.
If I look at this chart pattern, what do I see? I see a nice uptrend, I see price above all the key moving averages, and some interesting pickups in volume here that just started in early December. That’s probably when they announced that they had some SpaceX shares. It’s actually had a nice uptick in volume. It didn’t really trade at all the last couple of years, but now with this addition of SpaceX, I think there’s a lot of interest here.
So what we have is, not only an interesting fundamental story but a technical story, where we have price above all the key moving averages. We have support in and around the 50-day moving average. The price hasn’t really lived under the 50-day moving average for long enough to change the trend.
This, in my opinion, is definitely something that you could consider as a spec idea. Full disclosure, I do have a small position in this. It’s less than 5 percent of my account, just a tiny little position, I just want to see what happens. So I want if this trend continues, and if it does, then I think it’s going to work for us.
I would look to define risk here on a position in and around that 50-day moving average. If you’re looking for a breakout it’s not really doing much of anything lately, it’s just hanging out near the moving averages. I would look for a potential break above 19.50, coming on volume for a breakout.
You would want to be small within the consolidation box. As long as it’s under this level, you’re small in your position and as soon as, and if it breaks above that level coming on volume, then maybe you could consider adding to that position. That’s how I’m going to handle it. Maybe it’s right for you, maybe it’s not. It’s important that you come up with your own plan. Again, this is something that I found today and I think it has an interesting fundamental story.
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