Rocket Companies Soars 10% on Bullish Reversal

Rocket Companies (RKT) has surged 10% in pre-market trading on July 23, 2025, marking a significant rise in its stock price.

Rocket Companies has experienced a strong bullish reversal in recent trading sessions, with a clear Bullish Engulfing pattern forming around July 15th. This pattern, along with sustained uptrend and high trading volume, indicates a potential exhaustion of selling pressure and a strong underlying participation in the current uptrend.

The stock price has decisively breached its 50-day moving average, indicating strengthening short-term momentum. However, it remains below the longer-term 100-day and 200-day moving averages, suggesting a significant recovery rally within a broader long-term downtrend or consolidation phase.

Jefferies has increased its price target for Rocket Companies to $14, up from the previous $11.50, while maintaining a Hold rating on the shares. This adjustment reflects the recent positive momentum and strong trading volume, which has validated the strength of the move and increased the likelihood that the $15.00-$15.30 zone becomes new support.