ROCKET LAB has started a new 9-month correction phase.

Sep 5

Rocket Lab USA (RKLB) topped on August 19 after a more than +100% rise from the bottom that eventually reached the top of the Sine Wave count and as a result even though it failed to reach our $8.75 mark (Target 2), we will take profit on the last buy signal we issued (May 29, see chart below):

As you can see by the Sine Waves, RKLB is repeating a 2-year cyclical pattern (since the June 30 2022 bottom), which every time it provides a buy opportunity that delivers a little over +100% return (3 times so far within this time span).

Now that we got our +111% rise, we expect a new multi-month correction phase to start, initially in the form of a Channel Down (red). The previous correction phase lasted for 9 months and the one before for 10 months, before the +100% rallies commenced.

As a result, we are far away from a buy opportunity at the moment and the best course of action is to short below even the 1D MA200 (orange trend-line). Our Target is $4.35, the middle of the High Volatility Zone, which is located just above the (green) Support Zone, where our next long-term buy will be.

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