Robinhood: a fourth week of selling, the double bottom holds
Robinhood drops 5.1% yet defends its double bottom near 92, trade above 4% in profit
Robinhood: a fourth week of selling, the double bottom holds
Our view last week
Robinhood shares drop 10.7% in the week just closed, with sellers still in charge: 83% of volume is on the sell side, up from 70% a week earlier. The caution flagged last week has been confirmed. On the daily chart, though, price tapped its own 50-day moving average, in the 97 area, and bounced 4% from there. In Robinhood's technical analysis the trade still sits in double-digit profit since entry.
This week's summary
Robinhood shares drop another 5.1% this week, with sellers up to 88% of volume: the fourth straight decline since the buying side started giving ground. But a clean double bottom has formed in the 92 area, with a 25% intermediate rebound, and the structure hasn't broken. In Robinhood's technical analysis the trade still sits above 4% in profit since entry.
IQS Phase
44
ordinary
Signal Strength
74
high · wide & volatile
Sizing
FULL
Ranking
#43 / 124
US stocks in progress
Trade P&L %
+4.58%
from signal to today
Rank position
ranks 43rd among the 124 Longs already running for US stocks in our ranking, with a signal strength of 74 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein positive regime
Performanceweekly +0.09% · monthly +4.82%
HOOD belongs to the financials sector (reference ETF XLF). The sector is classified in positive regime according to our weekly reading.
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