Robinhood has been waterfalling down -70% since August. During the entire lifetime of the stock the Stochastic has been overbought only ONCE. The chart looks absolutely depressing, so let’s take a look if we should help and buy.
Geometry:
Price appears to approach the lower boundary of the channel. Currently the .5 fib provides support.
Elliott:
The stock only has one wave, which is DOWN. We are able to count a completing 5-wave move.
Oscillators:
The RSI surprisingly shows a bullish divergence. The Stochastic is due to move up, basically because it has never been up.
How to trade it:
The lower boundary of the channel provides a good risk-reward ratio to open a reckless long. If the stock ever climbs above the median to make a higher high, the idea is to increase long exposure. The idea is invalidated if HOOD continues to drop below 11.5.
There is a very strong support at $0.
Geometry:
Price appears to approach the lower boundary of the channel. Currently the .5 fib provides support.
Elliott:
The stock only has one wave, which is DOWN. We are able to count a completing 5-wave move.
Oscillators:
The RSI surprisingly shows a bullish divergence. The Stochastic is due to move up, basically because it has never been up.
How to trade it:
The lower boundary of the channel provides a good risk-reward ratio to open a reckless long. If the stock ever climbs above the median to make a higher high, the idea is to increase long exposure. The idea is invalidated if HOOD continues to drop below 11.5.
There is a very strong support at $0.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.