MP Materials Inc Breaks Long-Term Structure

MP has officially exited its multi-year descending channel, confirming a structural shift after forming a strong impulsive wave count. Price has now completed a 1–2 wave structure and is extending the 3rd wave with increased momentum. RSI currently prints at 79.87, indicating strength, yet a corrective wave (wave 4) may be due before the final thrust to wave 5 completes at $103.26.

A critical immediate support zone exists around the $44–$51 range, which aligns with potential wave 4 retracement. This zone will act as the decision point for continuation.

The final bullish projection targets $154.39, a potential macro resistance zone where profit-taking should be considered. Price action within this projected zone will determine the long-term trend continuation or reversal.

Plan: Accumulate on corrective dips into the defined support zones. Hold through wave 5 completion and monitor market reaction around the projected zone for directional confirmation.