Rare earths stocks: Big rallies but more upside

Folks are very curious about rare earths stocks.

We provide quick technical hits for MP Materials (MP), NioCorp (NB), Energy Fuels (UUUU), and USA Rare Earth (USAR) below.

In summary, these stocks have had big rallies but still have upside to longer-term targets on logarithmic scale charts, especially if their critical role in high-growth industries such as electric vehicles, renewable energy, advanced electronics, and defense technologies remains key fundamental drivers of demand for rare earths moving forward.

MP Materials (MP): Tactical upside to 103.50 and 110; log scale potential to 360

MP broke out from an August into October bullish continuation pattern with upside potential to 94 (achieved) and 103.50. Key tactical supports: 85.50-84.88 (upside gap), 82.50 (upper breakout point), and 77.85 (lower breakout point). The weekly log scale chart shows a breakout from an April 2022 into July 2025 big base. Upside counts: 110 (tactical) and 360 (long-term aspirational count).

Chart 1: MP Materials (MP): Daily chart

Chart 2: MP Materials (MP): Weekly log scale chart

NioCorp (NB): A breakout from a 2023-2025 base targets 21

NB broke out from an October 2023-September 2025 big base on the move above 5.20. This base projects to 9.25 on the arithmetic chart, which NB has achieved, and to 21 on the log scale chart. Last week's low at 8.15 provides a risk management support level.

Chart 3: NioCorp Developments: Weekly log scale chart

Energy Fuels (UUUU): Big base with targets at 23.75, 48, 80.15, and even 155

The weekly log scale chart for UUU shows a breakout from a 2012-2025 big base on a September rally through the 11-handle. This base breakout favors further upside to a tactical pattern count at 23.75, which UUUU has tested, a measured move at 48, the 2011 peak at 80.15, and potentially even to 155 (aspirational log scale big base projection).

Holding this week's upside gap at 22.71-22.37 could mean the difference between the continuation of the uptrend and near-term exhaustion.

Chart 4: Energy Fuels (UUUU): Weekly log scale chart

USA Rare Earth (USAR): Triangle breakout targets 34 and 70

USAR completed a 6-month bullish triangle base in early October. This breakout targets 34 on the linear chart (achieved) and 70 on the log scale chart. Last week's low at 31.31 provides risk management support.

Chart 5: USA Rare Earth (USAR): Weekly log scale chart