Chart of the Day: MP Rallying on Rare Earths Uncertainty
Description
MP Materials (MP) looks to continue its upward trajectory as rare earth companies react to ongoing tensions between U.S. and China. Rachel Dashiell examines the technical conditions taking shape on its chart, with the past 5 days showing near-term support at $91 and a small dip in the RSI momentum study. But, on a 1-year chart, she sees the early-year soft uptrend "really take off" in June as MP outperforms the S&P 500 (SPX) on a relative basis.
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