Rocket

Million

Resistance

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Rocket Companies, Inc. is currently trading at $10.50 with a 2.42% drop in the past 24 hours. However, the share price rose by 0.86% in the last 7 days.</a> </li> 
 <li> <span>2</span> <a>The stock broke the major resistance level which was the 200-moving average.</a> </li> 
</ul> 
<p>Rocket Companies Inc. is a fintech holding company that offers mortgage lending, title and settlement services, and other financial technology services in the US and Canada.</p> 
<p>RKT has a market cap of $20.747 billion. The company’s revenue and earnings have been declining year after year. In 2022, the company reported a revenue of $3.85 Billion and net income of $46.44 Million. RKT’s profit margin for 2022 was 1.21%.</p> 
<p>The company has a debt of $10.35 Billion and a free cash flow of $10.73 Billion, with $789.10 Million in cash and equivalents.</p> 
<p>However, the chart tells a different story from the fundamentals. The price is above the 200 and 50 moving averages and shows strong bullish momentum. The price is also facing resistance from its long-term supply zone, but the overall sentiment seems to be bullish.</p> 
<h2 class="wp-block-heading" id="strong-rocket-companies-inc-stock-price-technical-analysis-strong"><strong>Rocket Companies, Inc. Stock Price Technical Analysis</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/OaIi_lFmNYEEzMDB4hAprR5pgy2rJmLUa07_G4HBTfGwGq0xS3_wNUI3mo0Y2ETRCedwjNoQaoKB6JsLIMtxDoK22ySJD3-c5jYFp5yER50Q-5k8b-WdcGZtvQn8ERx6dzMLHNABLwOQ_JrxQZgUqg" alt="Rocket Companies, Inc Stock Price Prediction: Is RKT Bearish?"> 
  <figcaption class="wp-element-caption">
    Source: RKT/US DOLLAR by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>Rocket Companies Inc.’s <a href="https://www.thecoinrepublic.com/2023/07/21/tesla-inc-tsla-stock-fell-by-9-47-elon-musk-loses-wealth/" target="_blank" rel="noopener noreferrer nofollow">stock</a> price is displaying strong bullish momentum as its price has risen above the 50-day and 200-day moving averages. The price could initiate a new uptrend and move higher if the buyers maintain their support for the stock. Moreover, the bullish signal on the daily chart confirms the positive outlook.</p> 
<p>The MACD line has crossed above the signal line, indicating bullish strength in the share. Currently, the MACD is at 0.4755 points and the signal line is at 0.3636 points, and both are above the median line in the overbought area.</p> 
<p>The RSI is above the median line, reflecting a positive trend. Currently, the RSI is at 65.51 points and the 14-day SMA line is at 61.95 points, and both are above the median line in the overbought area.</p> 
<p>The super trend line is below the price, showing a green signal and suggesting a positive trend.</p> 
<p>RKT chart is showing some bullish signs based on the technical indicators MACD, RSI, and super trend. These indicators imply that the RKT stock is in a bullish trend and may continue to rise if buyers support the price.</p> 
<h3 class="wp-block-heading" id="strong-volume-analysis-strong"><strong>Volume Analysis</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/V7jt-o2l_73gyqAbYHX5l-So6JaeyoY-_B6lXW4_c9H7LKIql9OLEWAhDrRkpLfPksN4PM0srRqn1YSDaxj2V_ICiUs99x8O5ah_yWN45xzpvXQ6E8cCca_azp2idnVNKNFS94zkKdiqhhpHK4mB8w" alt="Rocket Companies, Inc Stock Price Prediction: Is RKT Bearish?"> 
  <figcaption class="wp-element-caption">
    Source: RKT/US DOLLAR by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>Rocket Companies, Inc.’s average trading volume for the last 3 months is 1.87 Million. The average volume for the last 10 days is 2.14 Million.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>The chart of Rocket Companies Inc.’s stock shows a bullish trend, despite the poor financials and falling revenue and net income of the company. The RSI, MACD, moving averages and super trend are all in favor of the bulls, indicating a powerful upward movement at the moment. The price may face some resistance at the supply zone, but the overall sentiment is optimistic.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<ul> 
 <li><strong>Support Level – </strong>The current support level is $10.01</li> 
 <li><strong>Resistance Level – </strong>The current resistance level is $11.00.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is only for information and education purposes. Do not use this information as financial or trading advice. Trading and investing have financial risks. Before making any investment or trading decision, please think about your risk tolerance and situation.</p>

Rocket Companies, Inc Stock Price Prediction: Is RKT Bearish?

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Thecoinrepublic.com

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