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..!