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In-Depth Technical Analysis of ROBINHOOD MARKETS INC - A.

By Mill Chart

Last update: Jul 11, 2024

Our stock screener has flagged ROBINHOOD MARKETS INC - A (NASDAQ:HOOD) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NASDAQ:HOOD for potential movement.

HOOD Daily chart on 2024-07-11

Analyzing the Technical Aspects

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 9 out of 10 to HOOD. Both in the recent history as in the last year, HOOD has proven to be a steady performer, scoring decent points in every aspect analyzed.

  • The long and short term trends are both positive. This is looking good!
  • When comparing the yearly performance of all stocks, we notice that HOOD is one of the better performing stocks in the market, outperforming 96% of all stocks.
  • HOOD is one of the better performing stocks in the Capital Markets industry, it outperforms 98% of 212 stocks in the same industry.
  • HOOD is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so HOOD is lagging the market slightly.
  • In the last month HOOD has a been trading in the 20.88 - 24.28 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

For an up to date full technical analysis you can check the technical report of HOOD

Why is NASDAQ:HOOD a setup?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NASDAQ:HOOD has a 8 as its setup rating, indicating its current consolidation status.

HOOD has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. Another positive sign is the recent Pocket Pivot signal.

How can NASDAQ:HOOD be traded?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Of course, there are many ways to trade or not trade NASDAQ:HOOD and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout screener.


This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.



NASDAQ:HOOD (7/10/2024, 7:06:35 PM)

Premarket: 22.27 -0.05 (-0.22%)


-0.28 (-1.24%)

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