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Technical analysis of Robinhood Markets Inc

BATS:HOOD   Robinhood Markets, Inc.
On August 4, 2021, 5 days after the IPO, Robinhood Markets shares reached a maximum of $85.00, after which a protracted decline began and by June 17, 2022, quotes dropped by 92% to $6.80. Subsequently, the shares traded in a range between the levels of 8 and 13 USD. The publication of the quarterly report led to a breakdown of the upper limit of the range and on February 19, 2024, the share price rose to 14.00 USD. A breakdown of the upper boundary indicates a high probability of further price growth. The next price target is at 16.00 USD. Its breakdown will open the opportunity for long-term price growth to 34.00 USD. But this movement must be supported by the company's financial performance.

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