RKT looks like it can clear resistance soon 👀recent bounce from 50SMA/trend support, now trying to clear 100SMA and resistance zone..
if it can cross 11.60 a quick rally to 13.90 and higher is possible!
boost and follow for more.. thanks ♥
RKT trade ideas
ROCKET 🚀 :UPCOMING EARNINGS ARE CRTICAL FOR DIRECTIONROCKET is displaying a technical setup of STRENGTH right now...mainly the shorter 100 Ema crossing over the longer 200 EMA Daily Timeframe...😍 golden crossovers 🚀 . Good earnings and we pop over resistance... this could be a really nice upwards play to minimum of $17 after resistance of $11.41 (100 EMA weekly timeframe)
If this 3rd attempt to break resistance fails...this could trigger a deep reversal $8.50 minimum
I have already removed all profits and left some $11 CALLS as runners ... these are free plays and no risk to me. if price moves up early in trading week prior earning may grab some cheap $8 PUTS.
ROCKET🚀 Long through earnings. Golden Cross strength loadingA sweet technical setup of strength. Attacking that resistance for the third time but from a stronger position. The 100 EMA is crossing over the 200 EMA, 10 CALLS $11 strike ...8/4 EXPY paid .27 cents currently .35 cents,,,if good earnings may convert to shares for long hold.
$RKT New Strategy May BackfireThe nation’s largest retail home lender Rocket Companies (NYSE: RKT) introduced ONE+, a new 1% down home loan program. That may be a recipe for disaster for RKT, as it encourages more people to buy homes and increases the risk of these people not being able to pay their mortgages, especially since the program is aimed at low-income Americans. If enough people can not keep up with the mortgage payment and default, it may lead to RKT stock plummeting as the situation resembles that of the 2008 financial crisis which may lead to RKT going bankrupt.
RKT Fundamentals
RKT just announced its new program ONE+, which will only require home buyers to make a downpayment of 1% instead of the minimum 3%. The other 2% percent needed to reach the required threshold for conventional loans will be paid by RKT.
While the 1% down payment will give more Americans access to home ownership, it also increases the risk of more people defaulting. ONE+ will completely eliminate the monthly mortgage insurance fee for the client – which is traditionally required if the buyer places less than 20% down on their purchase.
This all seems good for the customers, but it will put a huge strain on RKT’s financials, as RKT has removed one source of its revenue in the mortgage insurance fee and added the burden of paying the remaining 2% to reach the conventional loan requirements of 3% in down payment.
RKT incentivizing low to moderate-income Americans to own homes is similar to what happened in the 2008 financial crisis when lenders tried to incentivize low-income Americans to become homeowners. Another similarity is that existing home sales have declined to levels not seen since 2008 in December 2022. What makes matters worse is that the median house price has increased more than 30% since 2020.
That, combined with the fact that Americans’ credit card balances have increased again after plummeting during the pandemic due to the stimulus checks, indicates that people will struggle to keep up with their mortgage payments, and some people will have to default at some point. If enough people defaulted, that would mean that RKT may go bankrupt.
RKT Financials
In its Q1 2023 report, RKT’s assets increased 5% QoQ from $20 billion to $21 billion, and its cash and cash equivalents increased 23% QoQ from $722 million to $893 million. RKT’s total liabilities increased by 12% QoQ from $11.6 billion to $13 billion.
Revenue also decreased 75% YoY from $2.6 billion to $0.666 billion. Operating costs decreased almost 37% from $1.6 billion to $1 billion, which contributed to the operating loss increase of 141% YoY from $1 billion in operating income to $0.415 billion in operating loss, which amounted to a net loss of $411 million – a 118% increase YoY.
Technical Analysis
RKT stock’s trend is neutral with the stock trading in a sideways channel between $8 and $8.43. Looking at the indicators, the stock is trading below the 200, 50, and 21 MAs which are bearish indications. Meanwhile, the RSI is oversold at 27 and the MACD is bearish.
As for the fundamentals, RKT stock just witnessed a catalyst in the announcement of its new ONE+ program. Since this program is extremely risky for RKT in the current economic situation, bankruptcy is a real risk for the company if the macro environment does not improve. As a result, shorting RKT could prove to be a profitable decision.
RKT Forecast
RKT is making a risky business move to incentivize people to start buying homes again, and it’ll probably backfire. The current economic climate of increasing debt and rising interest rates is a dangerous time to introduce the new 1% down payment program as risks of customers defaulting increase, which may see RKT going bankrupt. RKT is a stock to avoid as it faces too many risks.
🧐RKT: Is Rocket Companies a Good Stock to Buy❓❓❓ 🧐RKT: Is Rocket Companies a Good Stock to Buy❓❓❓
Technical and Fundamental Analysis! Stock Trading Strategy!
In this video, we'll go into some detail about Rocket Companies and why it might be a good buy.
I have looked at some details about the financial statement and
also the current price position of the technical analysis.
You may find more details in the video!
Thank you and Good Luck!
$RKT with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $RKT after a Negative Under reaction following its earnings release placing the stock in drift D.
RKT potential Squeeze play above 8.8730 percent short to float. If the market is going to go up, these types of stocks will rocket (no pun intended). SCALP/DAY TRADE.
support level turned resistance for now🥶waiting for trigger break here, RSI overbought and approaching resistance.. so I have some bearish bias for now.
long trigger 10.60 / short trigger 9.13
Double bottom, trend still says $4Support at 6.91. If rkt falls through that $5.50 likely downtrend to $4. Only hope is major PR announcement
Trend is your friend - short rktStill my thesis holds, good company but will see housing crash and bad earnings coming up- target is $4-5 range buy then
Rocket Companies (NYSE: $RKT) Looks Poised For A Reversal! 🚀Rocket Companies, Inc. engages in the tech-driven real estate, mortgage, and eCommerce businesses in the United States and Canada. It operates in two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to national car rental and online car purchasing platforms; and Rocket Loans, an online-based personal loans business. Its solutions also include Core Digital Media, a digital social and display advertiser in the mortgage, insurance, and education sectors; Nexsys, a fintech company, which offers a suite of essential tech solutions for mortgage origination and closing processes through digitization and automation; Lendesk, a technology services company that provides a point of sale system for mortgage professionals and a loan origination system for private lenders; and Edison Financial, a digital mortgage startup. In addition, the company originates, closes, sells, and services agency-conforming loans. Rocket Companies, Inc. was founded in in 1985 and is headquartered in Detroit, Michigan. Rocket Companies, Inc. is a subsidiary of Rock Holdings, Inc.
Target is $5 down to $1Broke all fibs very well will go back to atl have purchased many short positions
Double Bullish Divergence Inside of Falling Wedge We have Hidden Bullish Divergence on the daily along with Classic Bullish Divergence on the weekly and are potentially Double Bottoming near a Logscale 1.618 Fibonacci Extension.
$7 By AprilTrendline pertaining to the pure trash nature of this company. Dan gilbert and jay farner don't give a $%^& about investors. They'd rather have investors live off a meal of ramen noodle soup than pump their already destroyed stock. What a disgrace. I bet this will reach $7 by april with current economy trends. good luck gonna need it
Garbage RKT is absolute trask :)going to 0 just buy puts broke all fibbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbbb
$3 by july RKT - Current TrendTrend points $3 by July, Purchased plethora of puts, this is going much much lower with war and interest rates. Market tank not priced in
RKT going to 0 - :(Bearish, 0 technicals left, worst management, such an ugly stock
Disclaimer: I hope I'm wrong
wait to $10 Used to have confidence this would perform well. But now it is game over for this stock, 0 support broke all fibonacci, no buying power
RKT LongRKT is showing seller exhaustion here in a falling wedge. Triple MACD and RSI classic bullish divergence on the 4hr and the daily. I think there is solid potential for a reversal here. If not, the stop loss is clear. You don't really want to fall below the last low.
Entry: $14.21
Stop loss: $13.50
1st Target: $16.50
2nd Target: $17.75 (near the top of the falling wedge)
RKT: Wedge PatternWe can see the price moving higher for another wave up. The first resistance area is located near 14.72 (that will be very decisive zone)
After the price moves higher we will have chances for more upside movement.
Targets:
🎯 14.72
🎯 15.24
🎯 16.35
Thank you and Good Luck!
Roket Companies USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series
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