RKLB support zone 70 hit

Support zone: close above is a hit. Close on the level is a push. Graded on the regular-session close.

A support zone is a price below the market where a large amount of options positioning sits. The idea is that this positioning can slow a move down there, so the test is simple: does the stock close above it? When it was posted at 08:45 ET, RKLB traded at 72.65, 3.8% above the support zone. On the same map, the next level above was 75. See the original post.

Price traded through the support zone during the session (first 5-minute close on the wrong side at 9:45 AM ET), with a low of 68.21 and a high of 71.94. In the last hour price moved down 2.44, from 70.65 to 68.21.

The regular-session close was 70.47, 0.47 (0.67%) above the support zone at 70. Under the rule (support zone: close above is a hit), that is a hit.

RKLB finished the day up 1.1%, while SPY was up 0.2%. We found no single clear company-specific catalyst for the day in our notes.