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 12:56 ET, RKLB traded at 73.7, 5.3% 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 4 PM ET), with a low of 68.21 and a high of 76.01. In the last hour price moved down 5.18, from 73.39 to 68.21.

The regular-session close was 73.92, 3.92 (5.60%) above the support zone at 70. Under the rule (support zone: close above is a hit), that is a hit.

Launch stocks rallied after a Falcon 9 rideshare mission, two days after Rocket Lab announced an order for 20 more Electron launches from a Japanese customer. RKLB finished the day up 4.9%, while SPY was up 0.7%.

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