RKT looking to pick up some steam past two days. BlackRock picked up a large position in it, and it has been staying relatively strong to the broader market. Even today, it held up quite well and was able to reclaim the 50 MA.
If the market bounces tomorrow, or if RKT is able to clearly reclaim 21.60 level, we can see continuation in this inverse head & shoulders, and with the additional momentum, we will see a 9 EMA 50 MA crossover resulting in a potential explosive move.
If market bounces tomorrow, 12/18 contracts could pay, otherwise, as long as it remains above the 50 MA and 9 EMA, getting LEAPs are a great idea.
If the market bounces tomorrow, or if RKT is able to clearly reclaim 21.60 level, we can see continuation in this inverse head & shoulders, and with the additional momentum, we will see a 9 EMA 50 MA crossover resulting in a potential explosive move.
If market bounces tomorrow, 12/18 contracts could pay, otherwise, as long as it remains above the 50 MA and 9 EMA, getting LEAPs are a great idea.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.