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Rocket Companies Inc [RKT] Records 50-Day SMA of $13.82

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Rocket Companies Inc shares valued at $4,385 were purchased by Rizik Matthew on Jun 28 ’24. At $13.79 per share, Rizik Matthew acquired 318 shares. The insider’s holdings grew to 707,528 shares worth approximately $9.64 million following the completion of this transaction.

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Also, Rizik Matthew purchased 316 shares, netting a total of over 4,361 in proceeds. Following the buying of shares at $13.80 each, the insider now holds 707,210 shares.

Before that, Rizik Matthew had added 165 shares to its account. In a trade valued at $2,246, the Director bought Rocket Companies Inc shares for $13.61 each. Upon closing the transaction, the insider’s holdings increased to 165 shares, worth approximately $9.63 million.

As published in a research note from Citigroup on January 16, 2024, Rocket Companies Inc [RKT] has been rated down from a Neutral to a Sell and the price target has been revised to $10 from $9. Analysts at Deutsche Bank started covering the stock with ‘”a Hold”‘ outlook in a report released in early January. As of January 04, 2024, JP Morgan has decreased its “Neutral” rating to a “an Underweight” for RKT. Earlier on January 03, 2024, Wells Fargo downgraded its rating. Their new recommendation was “an Equal weight” for RKT stock which previously was a “an Overweight”.

Analyzing RKT Stock Performance

During the last five days, there has been a drop of approximately -1.73%. Over the course of the year, Rocket Companies Inc shares have dropped approximately -5.94%. Shares of the company reached a 52-week high of $15.81 on 06/12/24 and a 52-week low of $10.87 on 02/21/24. A 50-day SMA is recorded $13.82, while a 200-day SMA reached $11.69. Nevertheless, trading volume fell to 2.03 million shares from 1.72 million shares the previous day.

Support And Resistance Levels for Rocket Companies Inc (RKT)

According to the 24-hour chart, there is a support level at 13.40, which, if violated, would cause prices to drop to 12.95. In the upper region, resistance lies at 14.11. The next price resistance is at 14.37. RSI (Relative Strength Index) is 45.45 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.54, which suggests the price will decrease in the coming days. Percent R is at 59.80%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.

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