Crypto World
Rocket Lab Stock Breaks Above Key Trendline
Shares of Rocket Lab Corp (NASDAQ:RKLB) are up 2.2% at $71.45 today, extending a bounce off familiar support at the $60 level. Furthermore, today’s price action has RKLB crossing above the 50-day moving average, which rejected the stock in July and August.
Per Schaeffer’s Senior Quantitative Analyst Rocky White, this “crossover” event has happened eight other times over the last 10 years. Rocket Lab stock was higher one month later 88% of the time after these signals, averaging a 16.8% gain. From its current perch, a move of this magnitude would put the shares at $83.45.
RKLB’s Schaeffer’s Volatility Index (SVI) of 70% stands in the low 10th percentile of its annual range, meaning options traders are pricing in low volatility expectations. The stock has tended to exceed these expectations over the last year as well, per its Schaeffer’s Volatility Scorecard (SVS) of 97 out of 100.
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