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Rocket Companies, Inc.

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RKT - Buying to OpenBuying to Open 19FEB21 20 @1.35-1.50 Watching the 1hr for oversold entry in the 19.56 area. Entry Target = 19.56 1st profit Target = 236fib @22.60 2nd Profit target = 382fib @24.14 HODL Target = 618fib @28.06+ ______________________________________________________________________________________________________________________ This content is for informational and educational purposes only. This is not in any way, shape or form financial or trading advice. Good luck, happy trading and stay chill, 2degreez
NYSE:RKTLong
by UnknownUnicorn7216011
2
$RKT Short term target of $26 - UPDATEDThe previous count was invalidated when wave 2 retraced beyond wave 1. This looks more like a WXY double correction. Double corrections are 3-1-3 waves where the W and Y waves are ABC corrections, and the X wave is a 5-3-5 zigzag. With the large price fluctuations after IPO, this sort of prolonged consolidation makes sense. If we are finally breaking this consolidation, we could be starting a wave 1. We need to break above 23 to break out of the larger triangle pattern. This could coincide with a 5 wave sub structure of the newly started wave 1, as shown on the chart. In this scenario, the sub wave 1 would get rejected at 23 initially, consolidate into a wave 2 before launching into a wave 3 that breaks the $23 soft barrier, consolidates again for a wave 4 and finally finishes wave 5 around $26. The $26 target is a confluence of a major resistance/support level, the 50% Fib retracement of the larger wave 3 of the first cycle, as well as the 2.786 band of a modified schiff Fib pitchfork (a FibFork, if you will). The pitchfork is not shown on the chart to keep it clean. Long story short, we need to see the following: A 4h close above $20.70 (to close above EMA's) followed by a breakout and 4h or 1D close above $23. Once that happens, its pretty clear sailing to $26.
NYSE:RKTLong
by ir-rizzle
3