Bullish divergence on the last all time low and it has slowly been climbing up on the weekly. Looking for the first 2 targets to hit before retracing and retesting the breakout. If the market melts up, HOOD is going to be a big benefactor.
Trade ist aktiv:
Lets see if the channel holds
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Retesting previous resistance. Want price to stay above $9.19. If price bounces here, target 2 should come easily
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Retest is successful and price closed above the .618 retracement level. Second time the price has bounced off the 30 day MA (blue) + its been coiling around the 200 day MA (pink) for over 7 months. There is a big move that is building up pressure - just need to wait and see which way it goes.
Moving stop loss to entry to protect and guarantee no loss on trade.
Moving stop loss to entry to protect and guarantee no loss on trade.
Kommentar:
Strong bounce off the 30 week MA and RSI is above the its EMA. Price has been coiling and its ready to break out after the re-test. Ratios of the breakouts match targets and there is a ton of confluence on fib levels to support it. Price should break out within weeks. Just need to see some volume to support it.
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3 Bar Reversal Pattern with volume increasing over the last 2 months. If July and August continue with increased volume, price should move quickly.
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I would love to see price drop back in this range to add more. Earnings should help fuel a sell off if there is one
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Finding support at the rebuy zone. Should hit target 2 again soon. Will need to keep an eye on the weekly close to close above $12.80.
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Something is brewing. Looking for a big move up soon