Long RKLB
Updated
Observing this weekly timeframe alongside a four hour timeframe, there has been a strong accumulation around this price range. This may be a good time to enter LONG, calling for a bullish trend upon us. After being down for consecutive months since July and the consistent insider selling its being bought up around the lower $4 range. Itll have to break resistance around 5.22, beyond that would be 6.60 and finally my price target of 7.79.
on the left side on the four hourtime frame ive added a volume weight average price indicator suggesting the bullish green candles are backed with good amount of buyers.
on the right side we've gotten 3 consecutive green days or bullish candles buyers have deemed this price range cheap and a potential moment in time for the price to break out.
on the left side on the four hourtime frame ive added a volume weight average price indicator suggesting the bullish green candles are backed with good amount of buyers.
on the right side we've gotten 3 consecutive green days or bullish candles buyers have deemed this price range cheap and a potential moment in time for the price to break out.
Note
Looks good from a technical standpoint, price was deemed cheap aroound mid 4s the recent deal announced on dec 21/23 catapulted the price action back to the upside. from a fundamental view they are not yet profitable so it is interesting how the current valuation is still undervalued and down from its high of 7-8s just a few months ago.
infamousnicone
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