HOOD, looking for the bottom on this one too.The market took my money on this one. Got stopped out on this crazy down move around 17.50, with the bottom around 17. Still need to learn to reverse it and put in orders where I put in stops.
Anyway the plan for now is to wait and see. There's probably a lot of overhead supply. Nonetheless notice the bullish divergence here.
Who doesn't want to own Robinhood? Knowing how bad the UI on most brokerages, these guys are disruptors for sure. I don't agree with all of Cathie's stock picks but this is a winner.
HOOD trade ideas
Robinhood, 6 Jan. Will this ever go up? Yes, it will.Robinhood has been waterfalling down -70% since August. During the entire lifetime of the stock the Stochastic has been overbought only ONCE. The chart looks absolutely depressing, so let’s take a look if we should help and buy.
Geometry:
Price appears to approach the lower boundary of the channel. Currently the .5 fib provides support.
Elliott:
The stock only has one wave, which is DOWN. We are able to count a completing 5-wave move.
Oscillators:
The RSI surprisingly shows a bullish divergence. The Stochastic is due to move up, basically because it has never been up.
How to trade it:
The lower boundary of the channel provides a good risk-reward ratio to open a reckless long. If the stock ever climbs above the median to make a higher high, the idea is to increase long exposure. The idea is invalidated if HOOD continues to drop below 11.5.
There is a very strong support at $0.
Long on hood opened position todayI set a stop loss in the picture, but in my investing I do not use a stop loss, I just add more if it goes lower and my conviction remains.
This looks like capitulation to me, it is a very premature buy by most standards, I love catching falling knives. The RSI shows that preliminary support was much higher, and as it trends up while making lower lows in price I feel comfortable buying, that plus this giant falling wedge which just broke.
If you are long you are wrong (in my opinion) 🚨this is why I warn people about buying IPOs that were just listed a week/month ago. RIVN is another example.
most IPOs have seen a big pop the first week then its straight red for months!
its better to stay away until we can see a clear direction..
We will most likely see a dump to 10-15 zone in 2022 unless we break top trendline resistance.
like and follow for more 💘
HOOD $75 PT - Cognitive DissonanceThoughts below, future chart candles are just for fun -
Cognitive dissonance driven by retail and news media's love affair together around hating the stock. If you set aside personal bias, they have a history of finding creative ways to add new users which get emulated by the competition (IBKR just got around to adding Instant Deposit). They're the most competitively positioned broker for future growth and they have the means to get there without raising additional capital anytime soon, as of the end of their most recent quarter Q3 they had 6 billion in cash and cash equivalents on their balance sheet.
Banning Payment for Order Flow is unrealistic, the way things are leaning the SEC will require more transparent and timely public reporting of short selling data to regain public trust. Quicker settlement like T+1 has some traction as well, any improvement here is good for the HOOD.
Large fund flows into the stock (D1 Capital, ARK) and short seller profit taking (Deutche Bank) appear to be underway, the next 13F filings will help confirm sentiment change.
2022 will see significant product functionality releases as HOOD grows out of its simple trading app for millennials image and gets accepted as a "real" broker with competitive tools.
Fully embracing the crypto space, recent acqui-hire brings top talent to their crypto development team and suggests something big is cooking but they're holding their cards close. Most recent 10Q is vague around the product roadmap and mentions items which clearly diverge from the actions they're actually taking. You can barely consider them a crypto trading platform currently since they only have a few assets available and price execution is lousy. However, Robinhood has an opportunity to eat Coinbase's lunch, unless they squander it entirely.
Just technical, reversion to Mean. It's no secret there's a significant divergence between individual stock performance and the mega-caps/indexes.
HOOD might move out the HoodI know we've all been told to stay away from HOOD and if you didn't you got rekt'd (me, down -%35, sold for loss)
BUT with the little knowledge i understand about Wychoff Theory we might see a Huge reversal.
I believe we could have another big shakeout IF we get another
Volume and Price action diverging (price action going down, volume ramping up)
After we get an explosive pump in our spring we should have another retest around $20.30 and maybe finally moon
Discloser, i dont have a position in HOOD, like i said i took the L (-%35, 30 shares averaged around @ $42 ish, ouch)
took that loss into AMC to open my first position at the Dec. dip already made my money back.
i would %90 open a new Position in Hood but im dead broke
cheers
Huge Bullish Divergence This one has been on a down trend for a long time but we are finally starting to see some upside. The RSI has continued to move upward with price moving sideways. So this is telling me that downward pressure is turning upward momentum. If we see a retracement to the 50% fib level that is a price of $50 easy.
Happy trading
Robinhood could have bottomed?Simple TA, I'm not a pro, but if you like or dislike what i say or see please comment and give me your reason of why im right or wrong.
Trend-Based Fib set. Trend lines set.
Price action is traversing into Huge downward wedge ready to test another Fib level, has $hood found a bottom? i hope so because this stock has been a huge Ouchy to my monies.
Let me know how i did boys
cheers
$HOOD - Resting on FIB extension. Oscil bullish divergenceLooking like reversal is about to happen. The Oscillators - RSI, Stoch, Accdist, OBV and macd all displaying bullish divergence.
The bulls should be ready to take a loss if the price drops below $16 as this can lead to $13.7 drop zone.
Target 1 - $24
Target 2 - $34
Risk - dropping below $16 is bad.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
RobinhoodLooks like we are getting some consolidation around this area with a strong bullish candle kicking in. I know a lot of people may not like this stock. However, investing and trading is all about finding stocks that are under or at its fair value while giving it time to move. Benjamin Graham liked beat up stocks that have some juice left in it. Well this is Robinhood. Robinhood introduced me and a lot of my peers to investing/trading and have either changed our lives or given us sentiment that we can change things down the line for ourselves and family. This is that type of trade for me. There isn't a good amount of MOAT. However, I like that this company has the attractiveness to the youth with how easy it is to navigate the app and getting in and out of trades and even learning about different things. They make their money like any other broker through spreads etc. I've been using Robinhood for a year since I've began trading and have seen the development of the app continue to grow. Honestly, when most people beat up a stock that tells me that they may be doing something good to be honest. Reminds me of when Facebook went through their recent situation and look at their stock now. From an annual perspective, they have increased their free cashflow. Operating Activities increased. They are investing more into their business. Assets overpowered liabilities. Total Equity has increased. Debt has increased but not as much as the income they have brought in. Net income is out of the negative and their EPS is out of the negative. This isn't the end all be all. However, this is what I would consider to be a damaged stock that has juice left. I want to see a retracement of 38% or more of the previous high. Let's see what happens by 2024!
Not advice!
This trade could go wrong. That's what trading and investing is about. Let's keep working on getting better!
$HOOD monstrous bounce coming, falling wedge forming here.$HOOD looking for a very aggressive bounce out of this falling wedge setup, the stock has declined from 85 trading at 18 with shorts piled in the sp will be quick to squeeze higher out of demand we're forming. Still in range so be patient but when it gets going im targeting a move to 25 quickly, from there we can base and expect higher in my opinion. Feb calls a safe bet, of closer exp when we break the wedge. Can go further out to play leaps as well.
HT: The end of the downtrend for HOOD?Robinhood has been struggling since its IPO. At Human Traders we've been analyzing live on Youtube that there will be a reversal anytime soon, then we're monitoring the stock closely. Best entry? After a big correction in the market (see S&P 500 chart). Now it's not a bad moment to buy the stock, but we prefer to wait for a confirmation of the trend reversal. The same applies for other stocks such as: Victoria's Secret, Oatly, Bumble, Deliveroo...