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SimplyCash
Feb 17, 2021 2:47 AM

Rare earths becoming even more rarer - technicals bullish Long

MP Materials Corp.NYSE

Description

News headlines are indicating greater trade tensions with China as they have reported tightening up their export/supply of rare earth metals to the U.S. The Biden administration is kicking into high gear the ability for the U.S. to supply and source its own rare earth metals to meet the demand of the growing tech/EV sectors. MP broke a critical resistance of its previous $40 high to reach ATHs today. The daily chart has a showing a "cup" formation and the MACD has crossed over for a bullish divergence buy signal. We are long and strong. Next target: $57 based on the 100% trend-based fib extension target.
Comments
benarcotta
great one. The trade war with china is a perfect catalyst on top of the EV industry blowing up!
SimplyCash
@benarcotta, Bingo.
UnknownUnicorn15571923
agree. lot of room in the top right quadrant for this one...

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