RKT to move to $27 after Cup and handle
RKT Current Price $20.67 Price Target $27
This is a value play with amazing long term growth potential given the technology RKT has that has attracted a young customer base.Trading at less than 10x FWD earnings RKT is very attractive here. The chart set up is also very important to note RKT is printing a cup and handle pattern which is a bullish signal. Rates have continued to fall on strong jobs numbers as deflation is now a real concern. A drop in rates helps RKT be able to provide more mortgages to people as mortgages look more attractive to potetinal buyers when rates are low. Last year RKT was able to provide 126% more mortgages, I expect this trend to continue for RKT.
This is a value play with amazing long term growth potential given the technology RKT has that has attracted a young customer base.Trading at less than 10x FWD earnings RKT is very attractive here. The chart set up is also very important to note RKT is printing a cup and handle pattern which is a bullish signal. Rates have continued to fall on strong jobs numbers as deflation is now a real concern. A drop in rates helps RKT be able to provide more mortgages to people as mortgages look more attractive to potetinal buyers when rates are low. Last year RKT was able to provide 126% more mortgages, I expect this trend to continue for RKT.
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