RKLB has only traded above the current resistance level of $5.80 to $6 twice since 2022. It has failed to break through this level seven times over the past two years, making it the most challenging resistance level to overcome.For the bullish trend to continue, the stock must hold above the current critical support level. Many stop-loss orders are likely set around $5. Breaking below this level could trigger a significant sell-off.
For long-term investors, this short-term resistance and support analysis may not be as critical, but understanding these levels can be helpful for knowing when to dollar-cost average.
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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.