Rocket Lab Stock Is Gaining Momentum: What's Going On?

Rocket Lab Corporation (NASDAQ:RKLB) shares are trading higher on Thursday. The company announced progress on its LOXSAT mission for Eta Space and NASA, and scheduled its third-quarter financial results.What To Know: Rocket Lab announced that it completed its Systems Integration Review (SIR) and finished building its Photon spacecraft for the LOXSAT mission. The review, completed in September, represents a key program milestone enabling the team to implement payload integration. The mission will now move to environmental testing ahead of its scheduled Electron launch in early 2026.LOXSAT is an orbital technology demonstration of a cryogenic fluid management system designed to inform the development of Cryo-Dock, a full-scale cryogenic propellant depot in low Earth orbit targeted for 2030 operations.Rocket Lab was chosen in 2020 by Eta Space to supply both the spacecraft and Electron launch vehicle for the mission. This follows previous integrated solutions including NASA’s CAPSTONE lunar mission and the upcoming VICTUS HAZE mission for the U.S. Space Force.Brad Clevenger, vice president of Space Systems at Rocket Lab, stated, “We’re proud to be both the spacecraft and launch provider for LOXSAT and for the opportunity to show Rocket Lab’s true end-to-end space systems capabilities. With LOXSAT, we’re supporting a critical technology demonstration that will enable key steps toward making orbital propellant depots a reality.”The mission will test how well liquid oxygen (LOX) can be stored without loss in space, where rising temperatures often cause it to evaporate. If successful, it could lead to building a bigger fuel station in orbit, making it easier to refuel and reuse spacecraft.Earnings Preview: Rocket Lab will release third-quarter financial results on Monday, Nov. 10 after the market close, with a conference call scheduled for 5:00 p.m. ET that day.Analysts expect the end-to-end space company to report a loss of 10 cents per share and revenue of $151.75 million for the third quarter, according to Benzinga Pro.RKLB Technical AnalysisRocket Lab stock shows strong momentum with a session high at $63.87 and a low at $60.75, indicating a bullish trend. The price action has formed a higher high, confirming an uptrend, while the recent low serves as a key support level.Rocket Lab is trading approximately 22.4% above its 50-day moving average of $51.81 and a significant 86.4% above its 200-day moving average of $34.03. The relative strength index (RSI) stands at 53.29, indicating neutral momentum, which suggests that while the stock has experienced upward movement, it’s not yet overbought, allowing for potential further gains.With no defined resistance levels, the 52-week high of $73.97 serves as a psychological barrier that traders may watch closely as the stock approaches this level. The current setup indicates potential for continued bullish momentum, especially if the stock can break through resistance at the 52-week high. Traders should remain vigilant for any signs of increased buying pressure that could propel Rocket Lab shares to new heights.RKLB Price Action: RKLB shares are trading higher by 4.33% at $63.21on Thursday at the time of publication, per Benzinga Pro. Elon Musk Says Head Of NASA Has ‘2 Digit IQ’ — SpaceX’s Moon Deal Hangs In Balance Image: Tigarto/Shutterstock.com