Rocket Lab to receive new funding
Last week, the space company Rocket Lab USA, Inc. announced it had received 50 million USD in funding from the US government. The company plans to use this money to expand the spacecraft's solar panel production capacity.
Rocket Lab has signed a non-binding memorandum under which the company will receive government funding as part of the so-called Chip Act, which encourages the production of advanced semiconductors in the US. This law offers a total investment of 50 billion USD for the industry. The subsidies could give Rocket Lab an advantage over its competitors, accelerating its transition to high-volume production.
Let's review the technical analysis of Rocket Lab USA, Inc. (NASDAQ: RKLB) shares to explore potential trading opportunities.
On the Daily (D1) timeframe, the resistance level formed at 4.95 USD with support at 4.30 USD. A steady upward trend began at the end of April 2024. Quotes are currently testing the support line. If a downward trend arises, the target for the fall could be set at 3.70 USD.
If the uptrend continues and the support at 4.95 USD is broken through, the short-term target could be set at 5.65 USD. In the medium term, the price may rise to 6.60 USD.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.88% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Rocket Lab has signed a non-binding memorandum under which the company will receive government funding as part of the so-called Chip Act, which encourages the production of advanced semiconductors in the US. This law offers a total investment of 50 billion USD for the industry. The subsidies could give Rocket Lab an advantage over its competitors, accelerating its transition to high-volume production.
Let's review the technical analysis of Rocket Lab USA, Inc. (NASDAQ: RKLB) shares to explore potential trading opportunities.
On the Daily (D1) timeframe, the resistance level formed at 4.95 USD with support at 4.30 USD. A steady upward trend began at the end of April 2024. Quotes are currently testing the support line. If a downward trend arises, the target for the fall could be set at 3.70 USD.
If the uptrend continues and the support at 4.95 USD is broken through, the short-term target could be set at 5.65 USD. In the medium term, the price may rise to 6.60 USD.
__
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.88% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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