The price of MP Materials' stock on the weekly interval has dipped below the key support level at $23.18. No signs of consolidation attempts as of yet.

From a technical aspect, MP Materials is currently trading at around $22.74 a share. Though we can see that its price has now dipped below a key support level sitting at $23.18 (white trendline). This dip could lead towards further downside with the next key support level sitting at $18.52. A break and close below $18.52 may even see the price fall as low as $11.28 (red trendline). If consolidation is created prior to the potential movement mentioned above, the stock would face resistance at $25.25 followed by a key point at $28.73. A break above $28.73 may see the price edge higher towards $32-$33 a share. However, this is only more likely if the price can manage to create a support base to allow a build of momentum and buying opportunity. Looking at the technical indicators, MACD is negative and RSI is faltering as it reads 38.