The Chart of the Day belongs to the mortgage finance company Rocket Companies (RKT) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 7/16 the stock gained 18.89%.
Rocket Companies, Inc., a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business. It also offers Core Digital Media, a online marketing platform in the mortgage and personal financial product sectors; Rocket Money, a personal finance app that helps clients manage every aspect of their financial lives; Lendesk, a software services company that provides a point of sale system for mortgage professionals and a loan origination system for private lenders; Rock Connections, a sales and support platform specializing in contact center services; and Rocket Innovation Studio that recruits and mentors top technology talent. In addition, the company originates, closes, sells, and services agency-conforming loans. Rocket Companies, Inc. was founded in 1985 and is headquartered in Detroit, Michigan. The company operates as a subsidiary of Rock Holdings Inc.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 83.25+ Weighted Alpha
- 2.43 - 60 month Beta (New Today)
- 69.79% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 11 new highs and up 26.99% in the last month
- Relative Strength Index 64.60%
- Technical support level at $18.61
- Recently traded at $18.49 with 50 day moving average of $15.20
Fundamental Factors:
- Market Cap $37.90 billion
- P/E 372.60
- Revenue expected to grow 39.20% this year and another 16.10% next year
- Earnings estimated to increase 500.00% this year and an additional 107.10% next year
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analyst gave 10 hold and 5 sell opinions on the stock
- Analysts' price targets are between $10 and $17
- Value Line gives the stock its average rating of 3 with price targets between $12 and $37 with a mid-point of $24 about a 30% increase
- CFRAs MarketScope rates the stock a sell
- MorningStar rates the stock a below average 2 star with Fair Value at $13.50 or 41% overvalued
- 29,140 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
