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Robinhood (HOOD): A Top Stock to Watch This Week
At the top of the watch list this week is Robinhood (ticker symbol: HOOD). We previously highlighted this stock as a significant election beneficiary post-November elections, leading to a substantial upside move, reaching the $43.35 resistance level. Since then, Robinhood has been building a consolidation base for about a month and a half, ranging between $43.35 resistance and $33.95 support.
Key Technical Analysis
Robinhood's ability to hold up well amidst market and Bitcoin volatility is a strong sign of resilience, particularly as many expected this stock to be closely correlated with Bitcoin. The longer the consolidation builds, the more energy it accumulates for a potential breakout. A break above the $43.35 resistance could set the stock "off to the races" for the next leg higher.
Critical Levels to Watch
Market Outlook
The longer Robinhood consolidates, the stronger the potential for an explosive move once it breaks out. Keep an eye on these key levels for potential trading opportunities in the week ahead.
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For those interested in more detailed trade alerts, nightly watch lists, and personalized answers to your trading questions, join our private Discord chat. Click the first link in the description below to access my personal trade alerts and insights.
Good luck trading this week, and stay tuned for more updates. Peace out!
https://youtu.be/AuTA8dhagIc?si=1tT6fTPrpZPfRY71&t=386