RKLB Rocket Lab is showing signs of a turn. MACD is about to do a bullish cross. RSI is turning up.If it can break out of the descending wedge, it could run to the $4.93 to $5.00 area.
With high short interest, a positive catalyst could cause a big rally.
Share shorted -55 millions
Short Interest - 19.06%
Days to cover - 7 days
Keep in mind though there is a chance that it could see $3.17 to $2.88 area if the current support fails. It would need a negative shock for that to happen.
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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.