hutsell_andrew

Rocket (RKT) - Analysis

Long
NYSE:RKT   ROCKET COMPANIES INC
Rocket had a nice post IPO run and has languished ever since, which is suprising given the strength of the housing/mortgage market. But we're not too hung up on fundamentals here, and the stock is now doing its best to finally bottom out and grind higher. It has formed a triple bottom with strong buy volume today.

I'm still not convinced this stock is ready to head back to its post IPO high, so start with a small position (20-25%) and buy the stock on continued strength. I want to see it get above its November 16th closing high and its October 9th closing high. Both of those would be levels to add to your position.

Give this thing a 10% stop loss and let it rip.

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