Rocket Cos. saw a positive improvement to its Relative Strength (RS) Rating on Monday, with an increase from 67 to 72.
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This unique rating measures technical performance by showing how a stock's price movement over the last 52 weeks compares to that of the other stocks in our database.
Decades of market research shows that the best stocks often have an RS Rating north of 80 as they begin their largest price moves. See if Rocket Cos. can continue to rebound and clear that threshold.
Rocket Cos. broke out earlier, but has fallen back below the prior 15.06 entry from a cup with handle. In the case where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new base to form. Also understand that the latest pattern is a later-stage base, and such bases are more prone to failure.
The company reported 0% earnings growth in the latest quarterly report. Revenue gains came in at -25%. Keep an eye out for the company's next round of numbers on or around Jul. 31.
Rocket Cos. holds the No. 7 rank among its peers in the Finance-Mortgage & Related Services industry group. Finance of America, Guild Holdings and NMI Holdings are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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