Rocket To The Moon

Steve Strazza
August 2, 2024

Rocket Companies $RKT is in the process of completing a primary trend reversal as it breaks out to its highest level since 2021 on the heels of an earnings beat.

The stock holds a 13.6% short interest and a 6x days-to-cover ratio, which could spark a major squeeze.

As long as we’re above 15, we want to be long RKT.

With the primary trend just now turning higher with the completion of a textbook rounding bottom formation, we like this one over longer time frames too.

Here’s the chart, showing volatility surging higher as it comes off record low levels:

 

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