ROCKET LAB 1st 1D Golden Cross in 1 year!

9 thg 7

Rocket Lab (RKLB) is up heavily following our last buy call (May 29, see chart below) and is approaching our $5.50 short-term Target:

Since however the Lower Highs trend-line is now a bit lower and the medium-term pattern since April's bottom emerged as a Channel Up (dotted), we lower this short-term Target to $5.35.

The key development of the week though is none other than the formation (today) of the 1st Golden Cross on the 1D time-frame in 1 year (since June 20th 2023). As a result, we don't expect the rally to stop there but instead to accelerate tiwards the 2-year Higher Highs trend-line. This is a seasonal rally that RKLB has done in the past two years during July-August. Our long-term Target is 8.75.

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