4HOOD trade ideas
$HOOD is not a Meme Stock.. Here's WhyHOOD may seem like the ultimate "meme stock", following in the footsteps of, and perhaps soaring past, the likes of AMC, BB, FUBO, and GME. But it's important to remember what unifies those other names -- short interest.
As far as we know, HOOD is not irregular in this factor. It's just a broker stock. If traders are sitting in HOOD shares on meme stock bets, it could be rough sledding ahead.
hood lookin' like a longafter big price movement hood has been consolidating for the past 2 weeks. it is currently forming a bull flag/falling wedge price action. today just filled the gap left open from aug 4. usually after gap fills you tend to get strong support at that area. looking for a bounce from here.
-boosung
Trade Setup: Buy/Long Robinhood Markets (HOOD)Short term, higher risk thus smaller positions apply.
- On 8-EMA
- Gap Close
- Low volume pullback
- Nearing incline support
- Overshot 61.8% Fib
Reclaiming 49.00 will be 1st sign of potential reversal.
Trade levels:
Aggressive traders buy here, $48.20
Stop: $45.25
Target: $57.00
Money flows matters..!I usually check the price volume leaders of the market every single day..!
Almost every day, SPY is ranked 1st in the market, and in 99% of the past trading year, Tesla was ranked first among stocks!
Today 12.37 Billion dollars were poured into a 40 billion dollar company and increased the closing price 50%, however, at some point, this was an 85%..!
Price volume of:
TSLA : 12 Billion market cap 700 B
AAPL : 8.2B market cap 2450 B
AMZN : 7.3 market cap 1700 B
But this job by stampede group of traders who caused this rally is far away from finished..!
Triple-Digit price tags in the next 1-3 days..!
The question is: how much risk do you able to handle???
I was written about all sorts of craziness in HOOD yesterday..!
No recommendation to join them or play against them..!
This lottery ticket like all others will have few winners and many losers..!
Mind the Gap: HOODThe Robinhood NASDAQ:HOOD IPO continues to be an interesting stock to watch. After holding the 50% Retracement it failed to make a new high. Now is it breaking the retest and near the close today is testing the gap open from yesterday.
The big brain play is to short meme stocks like this... but how? Shorting shares carries unlimited risk and buying Puts burns capital as volatility and time decay. In my Livestream tomorrow 4pm Eastern (at the market close) I'll look at a few strategies traders can use to bet on the hype failing and capture the FOMO pain gains.
HoodI was stopped out of half my postion. Doubled investment so I locked in profits. I posted recentlt if we lost 65.50 I’d exit half my postion and that’s what I did. Last line of support here is 55.45. I’d look for that area for a potential bounce. If we lost that then I would see it come back to46.89 support but not as strong as these ranges between 65.50-55.45