On Thursday, Rocket Cos. received an upgrade to its Relative Strength (RS) Rating, from 87 to 92 before the market open. It also earned a MarketSmith Blue Dot. And then it launched into new higher territory not seen since March 2022.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD's proprietary RS Rating tracks market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the market's biggest winners tend to have an RS Rating of over 80 in the early stages of their moves.
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Rocket Cos. was building a cup without handle with an 11.95 buy point. Today it flew right past that entry point and continued rising. As of this writing, it is 11% past the pivot. Time to wait for it to set up another buying opportunity.
RKT Earnings
The company reported 0% EPS growth in its most recent report. Revenue increased -7%.
The company earns the No. 7 rank among its peers in the Finance-Mortgage & Related Services industry group. Velocity Financial, Fed Agric Mtg Cl C and Fed Agric Mtg Cl A are among the top 5 highly rated stocks within the group.
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