RKLB If you zoom out, you can see that Rocket Lab is clearly trading inside the channel of a bottom stage. (Google Stage Analysis)The base of the channel has formed a strong support after a long period of consolidation, as evident by the volume profile.
As you can see, the stock spends most of its time in the bottom half of the channel and bounces every time it touches it.
If it can break out of the descending wedge around $5.50, it can run to the $7.50 area.
My upside targets from the Feb 8 post remain unchanged.
$5
$5.50
$6
$7.50
Downside risk:
$3.80
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
I am not a licensed professional. None of the posts that I published are investment advice. Do your own research.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.