Quarterly results have been significantly below expectations, a bearish catalyst that has led the stock to visit all-time lows.
RobinHood is back to square one from last summer’s IPO. The $33.20 is now the level to watch. Its definitive loss would leave the stock in free fall, a scenario prone to develop a second corrective stretch in search of new historical lows. Above, $39.60 is the benchmark to reconquer. A daily close above this level would confirm a first bullish turnaround signal, an event that could attract new purchases on the stock and push it towards the $43.50-44 level.
Pro1 PREMIUM Portfolio
Resistances: $36.20, $39.60, $40, $43.50.
Supports: $33.20.
Targets: (Bullish) $40, $44 (Bearish) $30, $25.
Trend structure in ROBINHOOD:
- Short term: Bearish.
- Medium term: Neutral.
- Long term: Neutral.
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