Adherents of technical analysis saw it coming a mile away. Prior to Friday’s ugly implosion of space-exploration specialist Intuitive Machines (LUNR), the equity itself appeared to be forming a head-and-shoulders pattern. When LUNR stock suffered its collapse, the trajectory was positive when compared to Tuesday’s intraday trough.
In another financial publication, I remarked that LUNR could see an initial pop — thus forming the second shoulder of the bearish head-and-shoulders pattern — before eventually collapsing. It’s turning out that the thesis was correct but the timing was significantly more accelerated than I imagined.
