ROCKET LAB Vastly oversold. Is it a buy?

BATS:RKLB   Rocket Lab USA, Inc.
Rocket Lab USA (RKLB) has completed a sharp decline of -36.50% that hit the Higher Lows trend-line from the April 06 Low. By doing so the 1D RSI has turned vastly oversold at 16.00, the lowest it has been ever in its history.

A Channel Down has emerged and technically this is a Lower Lows buy opportunity. As long as the Higher Lows trend-line holds, we will be bullish, targeting 5.25 (within the 0.5 - 0.382 Fibonacci range as in the previous Lower High). If the Higher Lows break, we will see and target the top of the 9-month Support Zone at 3.75.


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