On Thursday, Rocket Cos. stock earned a positive adjustment to its Relative Strength (RS) Rating, from 79 to 85. The Detroit-based fintech firm provides mortgage lending, title, and settlement services.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the last 52 weeks matches up against the rest of the market.
History shows that the best stocks typically have an RS Rating north of 80 as they begin their biggest runs.
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Is Rocket Cos. Stock A Buy?
Rocket Cos. stock is etching the right side of a cup without handle with an 11.95 entry. See if the financial stock can clear the breakout price in volume at least 40% higher than normal. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The fintech mortgage lending provider reported 0% earnings growth in its most recent report. Revenue increased -7%.
Rocket Cos. stock earns the No. 8 rank among its peers in the Finance-Mortgage & Related Services industry group. Fed Agric Mtg Cl C and Velocity Financial are also among the group's highest-rated stocks.
