LUNR: Intuitive Machines’ Latest Updates
Intuitive Machines’ market valuation is currently under significant strain following challenges with its latest lunar mission. The company’s highly anticipated lunar lander, Athena, successfully reached the moon last week, marking a critical milestone. However, unforeseen issues during the mission hindered its objectives, raising concerns about the lander’s performance. In response, the company’s stock has declined sharply, returning to levels last seen a year ago. Despite this, reports that seven analysts maintain a “moderate buy” rating for the stock, reflecting cautious optimism.
Technical Analysis:
- The stock price is positioned at a monthly pivot point support level, signaling a potentially stabilizing price floor.
- My RSI(2) indicator points to a near-term low, suggesting a possible oversold condition that might lead to a rebound.
- The mid-term channel indicator highlights that the current price is below the expected target, indicating potential upside if recovery occurs.
- The short-term zero-balance indicator shows a bullish trend, hinting at positive momentum in the near term.
Recommendation:
As always, I recommend awaiting price confirmation before making an entry decision. To effectively manage the trade after entry, you can refer to my comprehensive trading philosophy available on my website.
Action Plan:
- Place a buy order for LUNR at a level 1.67 points above the previous day’s closing price, using a stop order to trigger the purchase upon upward momentum.
- After entering the trade, implement a trailing stop-loss order with a risk parameter of 1.67 points to protect against downside movements.
Stay vigilant and disciplined in your trading strategy. Let the market confirm the direction before committing.
Happy Trading! Dave Register, CTA
