Since May of 2022 this stock has been trading horizontal seemingly forming a base for the next bull run of the market. Robinhood will likely not be going anywhere for awhile, so I do like this as the bottom after its IPO. The red resistance line is pure speculation at this point as we will need further data to confirm this. The resistance lines are shallowing in angle and are ready to turn in the upward direction though. It could possibly touch the green support line one more time before turning up for the long haul though, depending on what our market does in the short term. overall I do feel as if this stock is in buy territory at the moment for a long term position. After another bounce up I will move my red resistance line accordingly. Then I feel as if the next dip will set the support line to an upward angle as well. After that we shall be off to the races so to speak. I am not a financial advisor though so trade with your own decisions. This is also not a paid advertisement for the company. I just like the chart.
Comment:
We're at the first pink line. going to have some chop here. We will see what happens.