Yulia Slavina

Downside outcome would hurt longs in RKLB, Jake Wujastyk notes

Downside outcome would hurt longs in RKLB, Jake Wujastyk notes
Downside scenario could affect RKLB longs

Jake Wujastyk, founder and CEO of TrendSpider, expressed concern that a textbook downside scenario in RKLB would not be ideal for those holding long positions.

Wujastyk added that he hopes this scenario does not happen as commonly expected.

Wujastyk has recently highlighted other technical patterns in the market. He noted that TLT's extreme oversold RSI and bottom doji formations have functioned as strong reversal signals over the past two years. In a separate commentary, he pointed out a large volume shelf for NBIS on the weekly chart, indicating a higher probability of an upward move.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.