My Rocket Speculative Elliott Wave
Analysis Rocket Company Stock 2021
The first thing to remember is that as of today,
we do not yet have enough monthly data to
conduct a fully fledged wave analysis.
The
Rocket Company is a newly listed company.
Please note that this is a bit speculative wave
analysis. Well, one can only work with what
one has got. Right? Alright, let's jump right
into it.
Rocket Speculative Elliott Wave Analysis
The attempted first wave of the 23 Feb 2021
to 2 March 2021 has obviously being cancelled
by a zigzag pattern. Note that the C minor wave
of that zigzag pattern reveals its five internal
waves.
It is possible that an impulse wave (or motive wave)
or X-wave follows that zigzag pattern. Please allow
me to remind traders that this is still a speculative
wave forecast because of the reason that I have
already stated.
Following our 24Elliottwaves guidelines, one must
restart counting waves after the second wave cancels
the first wave because it is an Elliott wave principle violation.
All good? Nice one.
That is about the speculative wave analysis. Let's check
out the fundamentals' price targets.
Price Targets For Rocket Company
Though it is important to know the price targets, please note
that the price-action may or not hit them. Please do not think
that it will definitely hit the targets.
So far, I have identify four price targets.
The most important price target is at $406.09
That is a long term target provided that Rocket
Company's directors are delivering the expected
goods or rocketing the analysts forecasts to the upside.
That remains to be seen.
The second price target is at $190.51.
The last two price targets are in the same zone.
They are $62.75 and $67.30. Indeed, most medium
term investors will be expecting the Rocket Company
stock price to begin to be headed to that $60 zone.
Having been bullish so far, please note that the down
side move is also possible if the markets lose faith in
Rocket Company (RKT). Personally, I will not attempt to
sell Rocket Company because my own due diligence.
What Can I Say To Traders?
Priority to bullish signals above $19.35.
Draw all the price targets on your monthly chart
if it is possible. Remember to draw also that
turquoise trend line as I did.
I will surely come back to update you guys in due
course if that becomes necessary.
Mapping Out The Chart
Please just follow me onto the monthly, daily, hourly
and 10M chart.
Full Disclosure
I hold a handful of the Rocket Company stock, and I reserve
to myself the rights to add on more, hold or sell it without
informing anyone.
Please do your own due diligence, and do not use this video
as an invitation to buy, sell or hold the Rocket Company (RKT)
stock.
I wish you the very best in your trading and investing.
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