Rocket Lab, a choppy sixth week of decline
Rocket Lab drops 19.3% as its Sell signal slips back near the area-80 double bottom
Rocket Lab, a choppy sixth week of decline
Our view last week
Week 5 of the sell signal on Rocket Lab, and the week closed up 18.8%, with buying volume back to 60%. The daily chart still reads cautious, though: a sequence of 4 lower highs, from the 120 area down to the 108 area, with price sitting between the first resistance, the daily Pivot Point average in the 101.8 area, and the first support, the 50-day moving average in the 102 area.
This week's summary
Rocket Lab stock swung hard this week: after last week's 18.8% rebound, the stock gave back 19.3%, with 91% of the week's volume on the sell side. The Sell signal is in its sixth week, and the short is still up more than 26%. The daily technical analysis chart, though, shows a double bottom in the 80 area with a 36% rebound already booked: the decline is losing conviction, week after week.
IQS Phase
65
ordinary
Signal Strength
57
decline starting to make lower lows
Sizing
STANDARD
Ranking
#6 / 137
US stocks
Trade P&L %
+26.38%
from signal to today
restricted Platinum content