When looking for the best stocks to buy and watch, focus on those with rising relative price strength.
One stock that fits that bill is Rocket Cos. stock, which saw a welcome improvement to its Relative Strength (RS) Rating on Monday, rising from 82 to 93.
As you try to find the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
History shows that the market's biggest winners often have an RS Rating north of 80 as they begin their largest climbs.
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Is Rocket Cos. Stock A Buy?
Rocket Cos. stock is a bit extanded after clearing an 11.11 buy point in a cup with handle. The proper buying range extends to 5% above the initial entry. Once a stock moves above that range, it's best to wait for it to set up another buying opportunity..
The finance mortgage services provider reported 0% earnings growth in the latest quarterly report. Revenue increased -11%.
Rocket Cos. stock holds the No. 13 rank among its peers in the Finance-Mortgage & Related Services industry group. Velocity Financial, Fed Agric Mtg Cl C and NMI Holdings Cl A are among the top 5 highly rated stocks within the group.
