Robinhood has quietly gone from one of the market’s biggest laggards to one of its most interesting charts.
After a brutal correction from the $153 highs, HOOD spent months repairing the damage, building a base, reclaiming key moving averages, and now finds itself pressing into a major confluence zone.
Price is sitting just beneath a long-term descending trendline while simultaneously battling for control of the 200-day EMA.
That’s exactly the kind of setup that can produce a meaningful move.
📊 What I’m Watching
• Higher lows have been building since the April bottom
• Price has reclaimed the 20, 50, and 200 EMAs
• Descending trendline resistance is coming into play
• Volume has remained healthy during the recovery
• RSI is holding above 50 and trending higher
• Volatility has contracted as price compresses
The bulls have a strong argument here.
The stock has spent months working off excesses from the prior run while establishing a healthier structure. Instead of immediately rolling over at resistance, HOOD is consolidating beneath it. That’s often how strong stocks behave before attempting a breakout.
A decisive move through the downtrend line could open the door to a retest of the prior highs near $150.
After a brutal correction from the $153 highs, HOOD spent months repairing the damage, building a base, reclaiming key moving averages, and now finds itself pressing into a major confluence zone.
Price is sitting just beneath a long-term descending trendline while simultaneously battling for control of the 200-day EMA.
That’s exactly the kind of setup that can produce a meaningful move.
📊 What I’m Watching
• Higher lows have been building since the April bottom
• Price has reclaimed the 20, 50, and 200 EMAs
• Descending trendline resistance is coming into play
• Volume has remained healthy during the recovery
• RSI is holding above 50 and trending higher
• Volatility has contracted as price compresses
The bulls have a strong argument here.
The stock has spent months working off excesses from the prior run while establishing a healthier structure. Instead of immediately rolling over at resistance, HOOD is consolidating beneath it. That’s often how strong stocks behave before attempting a breakout.
A decisive move through the downtrend line could open the door to a retest of the prior highs near $150.
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This one was pretty obvious. $87-$105. Stops moved up and riding this higher.Ghi chú
$108 and climbing
TraderSWRLS
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TraderSWRLS
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.