Rare earths becoming even more rarer - technicals bullish

17 de fev. de 2021

News headlines are indicating greater trade tensions with China as they have reported tightening up their export/supply of rare earth metals to the U.S. The Biden administration is kicking into high gear the ability for the U.S. to supply and source its own rare earth metals to meet the demand of the growing tech/EV sectors. MP broke a critical resistance of its previous $40 high to reach ATHs today. The daily chart has a showing a "cup" formation and the MACD has crossed over for a bullish divergence buy signal. We are long and strong. Next target: $57 based on the 100% trend-based fib extension target.