BOZZ stock update: 
RKLB
Ouch! Let's get real. How many of you expected to wake up, see the stock in the red, and then watch it close the day down nearly 11%?
This, after a successful rocket launch, Powell's pivot, and a flood of great economic news?
It's a bizarre failure-to-launch case.
The company trades like a garbage stock so pungent that everyone steers clear of it.
So, what happened? My theory: opex + day trader short frenzy. This stock is a day trader's short dream. You can genuinely drive the stock down and squash any momentum it has with about 50K to 100K shares. Why? Because it has a large float with disproportionately low average daily volume.
Technically, you can see that since the stock broke below 200DMA, it has struggled to get above it. Thanks Peter. The moment it breaches or nears 200DMA, a hard rejection slams it down. Rejections are so hard that you could even develop PTSD from them.
The accumulation distribution nosedives after today's sucker punch breakdown. Luckily, the POC support came into play; otherwise, it would have been worse.
What could happen next? Well, I think the stock might attempt to launch from the POC area and strive to get above that 200DMA. The catalyst? Maybe fund managers and retail traders who missed this bull run, looking around for a decent company left behind in the dumpster in this bull run? I don't know. 🤷🏻
The price targets from the Dec 2 post still stand. I still anticipate reaching $6.50 in the medium term.
But in the meantime, $5 to $5.50 is going to be a pain in the butt. So enjoy the pain. 😮💨
@Peter_J_Beck, I love you but you better not be selling the stock again. 😡
RKLBOuch! Let's get real. How many of you expected to wake up, see the stock in the red, and then watch it close the day down nearly 11%?
This, after a successful rocket launch, Powell's pivot, and a flood of great economic news?
It's a bizarre failure-to-launch case.
The company trades like a garbage stock so pungent that everyone steers clear of it.
So, what happened? My theory: opex + day trader short frenzy. This stock is a day trader's short dream. You can genuinely drive the stock down and squash any momentum it has with about 50K to 100K shares. Why? Because it has a large float with disproportionately low average daily volume.
Technically, you can see that since the stock broke below 200DMA, it has struggled to get above it. Thanks Peter. The moment it breaches or nears 200DMA, a hard rejection slams it down. Rejections are so hard that you could even develop PTSD from them.
The accumulation distribution nosedives after today's sucker punch breakdown. Luckily, the POC support came into play; otherwise, it would have been worse.
What could happen next? Well, I think the stock might attempt to launch from the POC area and strive to get above that 200DMA. The catalyst? Maybe fund managers and retail traders who missed this bull run, looking around for a decent company left behind in the dumpster in this bull run? I don't know. 🤷🏻
The price targets from the Dec 2 post still stand. I still anticipate reaching $6.50 in the medium term.
But in the meantime, $5 to $5.50 is going to be a pain in the butt. So enjoy the pain. 😮💨
@Peter_J_Beck, I love you but you better not be selling the stock again. 😡
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.