MP Materials Forecast: Elliott Wave Signals a Buying Zone Near $26.96

MP Materials Corp., (MP) produces rare earth materials in the Western Hemisphere together with its subsidiaries. It operates in two segments: Materials & Magnetics. It comes under Basic Materials sector & trades as “MP” ticker at NYSE.

Since inception in weekly, MP shows three swing higher high from June-2020 low. It shows impulse up from August-2024 low & correcting it in zigzag structure towards $26.96 or lower in daily. We like to buy the pullback below $26.96 or lower against 8.05.2024 low.

Above $10.02 low of ((II)), it ended (I) of ((III)) at $100.25 high in October-2025. Within (I), it ended I at $29.72 high, II at $18.64 low, III at $82.50 high, IV as triangle at $69.61 low & V at $100.25 high. Within (I), III was extended wave. It ended ((1)) of III at $39.10 high, ((2)) at $29.58 low, ((3)) at $65.05 high, ((4)) at $56.70 low & ((5)) at $82.50 high. Below (I) peak, it started correcting in zigzag correction. Below (I) peak, it ended a of (II) at $50.50 low (11.07.2025), b at $76.80 high (5.08.2026) & favors downside in c leg. Within b wave, it ended ((A)) at $72.93 high, ((B)) at $44.43 low & ((C)) at $76.80 high as expanded flat correction.

MP - Elliott Wave Latest Daily View:

It placed ((1)) of c at $53.57 low, ((2)) at $73.52 high & favors downside in ((3)). Within ((3)), it ended (1) at $52.42 low, (2) at $63.14 high & favors downside in (3) towards $42.16 – $29.14 area before it may bounce in (4). It expects few more swings lows within c wave to extend below $26.96 level to finish (II). We like to buy the pullback below $26.96 level against August-2024 low before next rally in (III) or at least 3 swings bounce. In weekly, it is showing only three swings from inception, which can be nest as proposed view, which confirms if new high erase momentum divergence. But if high comes with momentum divergence, then it can be diagonal before correcting big.

Source: https://elliottwave-forecast.c...