MomentumOptions.com Trade Alert (RKT) for 2/29/2024
7:00pm (EST)
We have a Trade Alert for RKT following today’s breakout from the symmetrical triangle we have been highlighting.
Trade Alert!
Rocket Companies (RKT, $12.56, up $0.55)
RKT April 13 calls (RKT240419C00013000, $0.75, up $0.25)
Entry Price: $0.50 (2/28/2024)
Exit Target: $1.00
Return: 50%
Stop Target: 55 cents (Stop Limit)
RKT April 12 calls (RKT240419C00012000, $1.25, up $0.35)
Entry Price: $0.55 (2/21/2024)
Exit Target: $1.10, raise to $2.20
Return: 127%
Stop Target: 75 cents, raise to $1.02 (Stop Limit)
Action: Set a Stop Limit at 55 cents on the RKT April 13 calls to start protecting profits and to avoid a loss. Raise the Stop Limit at 75 cents to $1.02 on the RKT April 12 calls and raise the Exit Target from $1.10 to $2.20.