Rocket Lab (NASDAQ:RKLB) shares are up during Tuesday’s session as the company unveiled a new electric propulsion satellite thruster designed to meet the growing demand for reliable satellite propulsion.
This announcement comes as Rocket Lab continues to strengthen its position in the space industry, ensuring it can supply thrusters on demand in large quantities, which is crucial for both commercial and national security constellations.
Rocket Lab introduced the Gauss thruster, which features a Hall Thruster, Power Processing Unit, and a Propellant Management Assembly, aimed at producing over 200 thrusters per year.
The company said that this move is expected to alleviate supply chain issues that have historically plagued the electric propulsion market, enhancing Rocket Lab’s competitive edge.
Technical Analysis
Rocket Lab is currently trading in a strong uptrend, positioned 23.4% above its 200-day simple moving average (SMA), indicating robust long-term momentum. The stock is also trading 7.6% above its 20-day SMA and 4.2% above its 50-day SMA, suggesting positive short-term strength as well.
The relative strength index …
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