ROBINHOOD is back to square one

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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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