RKT trade ideas
RKT - LONGRKT establishing control of 4H 50MA inside of IHS.
Long entry: 19.91 - 22.50
Take profits: 26.50 - 29.00
Stop Loss - 19.39
2.6%-16% loss : 33-45% profit.
RKT - Inverse Head & Shoulder PlayRKT looking to pick up some steam past two days. BlackRock picked up a large position in it, and it has been staying relatively strong to the broader market. Even today, it held up quite well and was able to reclaim the 50 MA.
If the market bounces tomorrow, or if RKT is able to clearly reclaim 21.60 level, we can see continuation in this inverse head & shoulders, and with the additional momentum, we will see a 9 EMA 50 MA crossover resulting in a potential explosive move.
If market bounces tomorrow, 12/18 contracts could pay, otherwise, as long as it remains above the 50 MA and 9 EMA, getting LEAPs are a great idea.
RKT the next PLTR and SNOW run?So RKT is one of those new IPO of this year along with PLTR and SNOW. as we can see they have all made massive breakthroughs and made great bullish runs. my assumption is that these stocks have been tired out and the next one to make a bullish run is RKT. for the past two days we can see RKT stacking up a decent amount of volume. i mean look at the volume today. additionally it broke out of the descending triangle, now what i think will happen is it will retest prior support and then make a big push to break that next support level showed on the FIB. Now my first TP is the first puurple line and my second TP area is the one above obviously. based on the volume we can see it go higher but i will be satisfied if it hits those areas. let me know what you think do you agree or disagree? let me know.
RKT Potential LongRKT rocketed today after breaking out and then retesting from a falling wedge yesterday. Today It completed a head and shoulders patten visible on the 4h and the daily.
I think it will retest support on lower trend line, breakout of the head and shoulders and ultimately reach targets of 22.50 and eventually 24.
There is resistance at 23 that I have not marked out in this Idea.
Why RKT not rocketing higher?Bull Case:
Technically:
1. AO divergence
2. Stoch oversold
3. Vol spike
4. Consolidation / Accumulation between 20-21
Fundamentally:
5. Forward P/E 11
6. 60% institutional ownership (croweded?)
Last Earnings results:
-Closed origination volume up 122% year-over-year to a record $89.0 billion
-Increased GAAP net income 506% year-over-year to $3.0 billion
-Announces $1 billion share repurchase authorization
-“Rocket Companies assisted more clients in the third quarter of 2020 than any quarter in our 35-year history,” said CEO Jay Farner.
Bear Case:
I cant find any. You tell me.
Housing is hot now
IPOs are hot too
Why isn't RKT much higher?
RKT - We Have Confirmation!We are above 50D moving average, RSI over 50 and head and shoulder confirmed, I'm 100% bullish. Target 29
$RKT Day 7 early....Well there is goes, just had to wait a few days as planned. Holding 1/15/21 $21 calls as long as I have the nerve to...
RKT Inverse head and shoulders with divergenceLets see how this plats out but it looks prime for a move up
Chart looking bullish. RKT is a bit of a weird stock in my opinion. Earnings were positive but didnt see that pop i expected. It has been trading sideways for a while now, and MACD is Closing red looking like the start of an uptrend. RSI and CCI are also pointing up and volume spiked up today just a bit. FYI Everyday i see at least 10 commercials of Rocket in almost every channel.
RKT: Another Wonderful Trade-BUYPlease don't forget to FOLLOW, LIKE, and COMMENT ...
If you like my analysis:)
Thank you and Good Luck!
$RKT Day 5....Original chart still in play, still liking the long term. I give it two days, if there is one more drop to upper $18's I'm still good to watch the reversal.
