RKT trade ideas
RKT Update - Watch for today's closePreviously posted to wait for earnings:
RKT did well in earnings as expected and seem to be starting to rally. If it closes above the trend line above 23.70 today it should be a good sign to add to position. In my opinion RKT's price has been held down for some time and should see a bigger rally within a few months.
RKT could breakout again.Looking at the daily chart on RKT and if you look at the MACD it looks like it is ready to close red and turn green. RSI is heading up and friday saw some volume which i think was the reason for the move up on friday.
LEVELS TO WATCH FOR RKTMajor support under 23.4, expect a little dip to that at market open and over the day watch for general resistance around 26.5. I feel if we can break 26.5 we can drive it up again. Let's this bread. Buy options while they are cheap. Expect the price to hit $50 this month at some point.
Falling wedgeAfter the huge seloff, we might have a trend reversal, and make a higher low on a higher timeframe.
If we manage to breake the upper resistance, then we might see some nice rally.
BULLISH ASF. Get your positions in now, going to the moon!!!If we break up in aftermarket I would get options to call in around $50 for the end of April while they are cheap.
RKT HIGH/LOW Dates Fits this Sine Wave Fairly WellThis sine wave fairly well predicts the dates (not the values). This is only an observation. I like patterns. This is not trading advice. I think it will be interesting to see if the pattern holds.
$RKT Classic Wyckoff Accumulation Timed to Max Pain & Div Reinv.Tracing a classic accumulation pattern, but would need catalyst and volume to break out of selling pressure.
RKTSHORT-TERM: Flipping a previous resistance into a support at the .786 retrace, just pretty easy to manage risk here. Low risk high reward, medium probability trade. (not financial advice)
RKTRKT not being a rocket, Fell out of the Consolidation box and testing Fib Retracement. If it holds can reverse back to 28-30 range.
Rocket Companies RSI is oversoldRocket Companies RSI is oversold on the one hour chart, 6 week view. Mortgage rates are now at the highest point since June 2020 and could go even higher even if the Federal Reserve doesn’t change its low interest rate policy. Mortgage rates roughly track the direction of the 10-year Treasury, 1.735%. Ten-year Treasury rates are on an upward trend since August 2020, but mortgage rates were still falling until February. As of Thursday, the 30-year fixed-rate mortgage averaged 3.09%, up four basis points from the week earlier. It was hard to fit this chart inside the box because of WSB price action in early March, but nevertheless, I think RKT is a solid company, p/e = 14.68, with good growth in the future. Rocket Companies (RKT) reported Quarter December 2020 earnings of $1.12 per share on revenue of $4.7 billion. The consensus earnings estimate was $0.86 per share on revenue of $3.8 billion. It's a mortgage and eCommerce businesses – including Rocket Mortgage, Amrock, Rocket Homes and Rocket Auto. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. This is for educational and entertainment purposes only. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
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$RKT Strong support at the .786 retracementHas been consolidating for almost 2 weeks at this level close to 24. Let see if this bounces back to 30 in the next few weeks
RKT back to Thetaganger's dreamBefore the moon trip, RKT was range bound very well, easily predictable, and had decent premiums for very consistent oscillations. Now it seems back to that range, but slightly higher, with premiums even juicer.
Wheeling RKT has an asymmetrical risk where assignment gives you a company that had stellar earnings, a dividend, and a juicy meme factor. Selling CSPs and CCs at or slightly out of support and resistance is easy money. Currently, ATM options are netting 5% weekly
$RKT Could go if the market cooperates$RKT - Over $27.00 with some volume will get a push to $30.00 +
RKT to bounce off the lower trading range on Monday
Yes I do think RKT will take off on Monday as the chart suggests. I think that trading range becomes more and more significant as RKT bounced of it two times and now found the support at it. The price was dropping in recent two dats but on the very low volume . Higher volume may take us higher. Long here.
Stop loss 24.50, TP? ~28/ or if it breaks the upper trading range I will hold until the next resistance.
I also it will grow based on the recent earning report which was a great surprise and shown that company has a lot of room for growth :) The best trades are a result of technical analysis connected with the fundamendal. I find the current setup as a very promising taking into accounts recent events.
Daily inside bar on $RKT I like the set up here, we had a big move, pullback and surf of 10 day moving average, look to buy $RKT w a break of Thursdays high w volume, stop below low of yesterdays candle, take profits are 1-1, 1-2. 1-3 of risk. Preferable to take trade on above average daily volume
All Aboard the ROCKET! Hypothetical Wyckoff Accumulation ...Just one way it may play out, if it follows a classic Wyckoff accumulation phase.
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Target Acquired. Pull-backs necessary.Greetings All,
Targets are blue. Pull-backs (retracements) are green/yellow. Yes it's overbought, but participate ;). We may be experiencing a SHORT-SQUEEZE event.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. My ideas do not constitute solicitation, recommendation, endorsement, or offer to buy or sell any securities or other financial instruments. You should not construe any such information or other comments as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Please exercise your own due diligence.
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