ROCKET LAB: Channel Up aiming at $78.

RKLB turned marginally neutral again on its 1W technical outlook (RSI = 47.190, MACD = 1.683, ADX = 38.570) as it basically remains flat for the past 3 weeks. Since the price is not that far off the 1W MA50, we believe that's the (long term) bottoming process of the 1 year Channel Up. We are also a little bit over the 0.382 Fibonacci retracement level and once the process is over we expect the new bullish wave to target the -0.382 Fib extension (TP = 78.00) as the top of this Cycle.

See how our prior idea has worked out:

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