Intuitive Machines Rockets 240% Year-To-Date, Forms Golden Cross After $4.8B NASA Contract

Intuitive Machines Inc. LUNR is making waves in the stock market, skyrocketing 113% over the past year and a jaw-dropping 240% year-to-date.

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But wait, it gets better—over just the last five days, Intuitive Machines’ stock is up 38.21%. It has now made a Golden Cross – a bullish sign indicating further positive momentum for investors.

With that stride, this small cap space stock now commands a $495.21 million in market capitalization.

So, what's fueling this rocket ride?

A Stellar Contract: LUNR Strikes Gold With NASA

The answer lies in the company's recent announcement: Intuitive Machines has been awarded a NASA contract for communication and navigation services in the near-space region. This contract has a potential maximum value of $4.82 billion.

This firm-fixed-price, indefinite-delivery/indefinite-quantity (IDIQ) contract has a base period of five years, starting Oct. 1, with an option to extend another five years through 2034. It sets the stage for the debut of Intuitive Machines' lunar satellite constellation, which is crucial for NASA's Artemis campaign to create a long-term presence on the Moon.

"This contract marks an inflection point in Intuitive Machines' leadership in space communications and navigation," said CEO Steve Altemus. Partnering with NASA not only boosts the company's profile but also positions it at the forefront of the emerging lunar economy.

Lift-Off Alert: Golden Cross Point To A Space Surge

So, what does the chart say about Intuitive Machines’ stock trajectory?

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With the share price soaring above its eight, 20 and 50-day simple moving averages (SMA), the trend is firmly bullish. The Golden Cross made by the 50-day SMA at $4.87, crossing over the 200-day SMA at $4.64 – has triggered a potential for upward momentum, suggesting that upward price trends may continue.

However, it’s essential to note that the stock is experiencing selling pressure, which indicates a potential risk of future bearish movement.

Read Also: Intuitive Machines Stock Is Soaring: What’s Going On?

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The Moving Average Convergence Divergence (MACD) indicator sits at 0.95, signaling that Intuitive Machines’ stock is a bullish play.

However, the Relative Strength Index (RSI) is at 66.07, is near overbought levels at 70.

Meanwhile, the Bollinger Bands suggest that Intuitive Machines’ stock is still in a bullish phase, riding the upper bullish band.

Intuitive Machines appears to be on a promising path with a NASA partnership and a solid technical setup.

As any seasoned investor knows, the sky's the limit, but it's wise to keep an eye on the stars—or, in this case, the charts.

Will Intuitive Machines’ stock continue its ascent, or is it time to buckle in for a bumpy ride? Only time will tell.

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