RKLB: Critical point on Timeline

17 thg 4

Going to avoid getting into the fundamentals of this company, as I've covered them before (have been increasingly better with the contracts they've won).

As we can see from this range price formed over the past 2 years, RKLB's 3-month downtrend could end through a reversal with great upside. It happened entering the final 70 days of last consolidation period, and I'm awaiting more confirmation for it to happen again in this period.

Keep in mind that price:
- Tapped the bottom of this demand zone (has never closed below)
- Broke below descending wedge (can reclaim before Friday)
- Is being hurt by S&P PA (last pump coincided with rising S&P)

I would be weary of longing any stocks at this point, but will be closely observing how RKLB closes Friday to inform the next steps.

9 thg 5

Ghi chú

So far so good.

The dump after earnings Tuesday formed a perfect bounce off the bottom trendline of the descending wedge; has since led to a strong 3D candle.

It is still very early for this stock, just at 22B MC, entering its historical "hot" summer period where price tends to perform best.

Also, notice how the red line (4.60, median resistance of current range) sits right above the bullish wedge -- I anticipate a strong break of both, followed by retest of top of trendline of wedge, then continuation higher. This is based solely on my intuition of how two proximal layers of resistance after lengthy accumulations can form high-velocity breakout points.

Let me know your thoughts on RKLB's current PA, and good luck to everyone

14 thg 5

Ghi chú

26% gain so far.

contrary to my expectation, we are now slowly approaching 4.60 resistance (same res as 50MA on 1W chart), rather than bursting through, having already broken out of bullish wedge.

I feel like now we are either due for a pullback to 4.20 (granted less favorable CPI report tomorrow), or break up for 4.74, then retest top of wedge (4.41).