Rocket Lab USD (RKLB) has been consolidating for exactly one month (blue Arc pattern) after touching the Higher Lows Zone and now uses the 1D MA50 (blue trend-line) as its Pivot. We can see the very same consolidation pattern during the previous two market Lows (April - May 2023, June - July 2022), which gave enormous rallies of +114.46% and +105.08% respectively.
Similar with today's pattern, each bottom was priced on a 1D RSI Higher Lows sequence, which is a major Bullish Divergence. As a result we consider this one of the best high cap stock buy opportunities at the moment, and aim for at least a +105.08% rise, targeting $8.20.
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
Last consolidation range was around 60 days. We have been consolidating for around 64 days. To reach the previous high this year it took 71 days. If using around the same logic, 71 days will put us around end of January. I can see it and do believe Rocket Lab is undervalued. Being second best in your field deserves more attention then what they get. One rocket mishap and Peter selling some shares has taken this one to the woodshed. I’m hoping we see $5 by end of year.
TradingShot
⋅
@jhuey235, Well said, your projection on the maturity is logical. And yes, it is undervalued at least from a technical perspective.