HOOD daily chart: breakout or fakeout? Key zone approaching.

Robinhood's stock has formed a falling wedge pattern on the daily chart, indicating a potential bullish reversal. The price has broken above the 0.618 Fibonacci level at $44.00, suggesting further upside potential. Next targets are $48.40, $52.79, $58.22, and $67.00. RSI and MACD indicators confirm bullish momentum.

Fundamental Factors:

Robinhood continues to show revenue and profit growth, supporting positive investor sentiment. The company is expanding its services and attracting new users, strengthening its market position.

Scenarios:

Main scenario: continued rise to $48.40, then to $52.79 and higher.
Alternative scenario: pullback to $39.71 with potential decline to $36.00.

Trade closed: target reached

target reached at $48.40

Note

All targets reached : $48.40, $52.79, $58.22 and $67.00

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