Hello I am the Cafe Trader.
Today we’re looking at Robinhood (HOOD).
Last Year, we nailed the bottom.
Seasons of Range
Coming off that huge run, it is natural for HOOD to cool off. As you can see, we are Consolidating off those highs. Price has not found real demand yet, but it is working its way lower toward an area where buyers are likely to start showing interest.
Patience Pays
We are right in the middle of the range, if you were looking to go long, I have a great area to add to your long term or to play the reversal.
Long Idea
Entry: ~97 (Demand zone)
Stop: 87.76
TP: 131.90
Note:
This is a Wide demand range, The bounce can happen anywhere in this zone, so If you are adding to your long term you can Dollar Cost Average[/I]. If you are playing the bounce with the shorter term, or playing options, Then you will want to get aggressive where I have this entry.
Stay patient, Let the price come to you.
Happy Trading,
thecafetrader
Today we’re looking at Robinhood (HOOD).
Last Year, we nailed the bottom.
Seasons of Range
Coming off that huge run, it is natural for HOOD to cool off. As you can see, we are Consolidating off those highs. Price has not found real demand yet, but it is working its way lower toward an area where buyers are likely to start showing interest.
Patience Pays
We are right in the middle of the range, if you were looking to go long, I have a great area to add to your long term or to play the reversal.
Long Idea
Entry: ~97 (Demand zone)
Stop: 87.76
TP: 131.90
Note:
This is a Wide demand range, The bounce can happen anywhere in this zone, so If you are adding to your long term you can Dollar Cost Average[/I]. If you are playing the bounce with the shorter term, or playing options, Then you will want to get aggressive where I have this entry.
Stay patient, Let the price come to you.
Happy Trading,
thecafetrader
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.