On Friday, Rocket Cos. reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 79 the day before.
IBD's unique rating measures price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks often have an RS Rating north of 80 as they begin their biggest price moves.
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Rocket Cos. is now considered extended and out of buy range after clearing a 15.19 buy point in a second-stage consolidation. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
The company posted 0% EPS growth in the latest quarterly report. Revenue gains came in at 5%. Keep an eye out for the company's next round of numbers on or around Nov. 12.
Rocket Cos. earns the No. 12 rank among its peers in the Finance-Mortgage & Related Services industry group. Velocity Financial, Fed Agric Mtg Cl A and Finance of America are among the top 5 highly rated stocks within the group.
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