Key Takeaways
- MP Materials shares remain in focus after soaring 20% yesterday on news that Apple plans to invest $500 million in the rare earths firm, news that came just days after the Department of Defense took a stake in the company.
- The price recently staged a volume-backed breakaway gap above a flag pattern, accelerating the stock’s uptrend.
- The bars pattern tool, which extracts the bars comprising the stock’s impulsive move higher that preceded the flag pattern and overlays them from last Thursday’s breakaway gap, projects a bullish price target of around $85.
- Investors should watch major support levels on MP Materials’ chart around $39 and $30.
MP Materials (MP) shares remain in focus after soaring 20% yesterday on news that…
