HOOD
This garbage has been in a downtrend since it went public.
After reaching low of about 6.88, price pulled back to 11.00 where it ran into resistance.
A Double top pattern as now formed with a neckline at 9.25.
There is also a bearish MACD divergence with the price action.
Looking for price to break thru neckline and continue downtrend.
Taking swing trade to previous lows.
Entering trade short.
Entry: 9.32
Stop loss: 11.56
Target: 6.90, +25.97%, 1.08 RR ratio
This garbage has been in a downtrend since it went public.
After reaching low of about 6.88, price pulled back to 11.00 where it ran into resistance.
A Double top pattern as now formed with a neckline at 9.25.
There is also a bearish MACD divergence with the price action.
Looking for price to break thru neckline and continue downtrend.
Taking swing trade to previous lows.
Entering trade short.
Entry: 9.32
Stop loss: 11.56
Target: 6.90, +25.97%, 1.08 RR ratio
Trade closed: stop reached:
Stop loss: 11.56
Trade active:
Reentering. Price fell back below 11.00 support/resistance
Entry: 10.97
Stop loss: 13.26, -20.88%
Target: 6.90, +37.10%, 1.78RR ratio
Entry: 10.97
Stop loss: 13.26, -20.88%
Target: 6.90, +37.10%, 1.78RR ratio
Comment:
cant give up on a trade when the analysis is on point