HOOD Robinhood: 4H Chart Review

Hello friends, today you can review the technical analysis idea on a 4H linear scale chart for Robinhood Markets, Inc (HOOD).

The chart is self-explanatory. Price has a nice short term move up, however RSI just broke the support line, with the potential of a move down in price. Please read the chart for all the notes.

Included in the chart: Trend line, Support and Resistance Lines, RSI, MFI, Stochastic RSI, Volume, Parallel Channel, Median Line.

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I have a bunch of additional recent charts below on cryptocurrencies to review. Check them out!

Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk

Comment:

Met with resistance from January resistance area. HOOD may do a back test of the channel top line before a move up. That could mean price comes down to $10-$11. Keep an eye on the RSI and Volume on various timeframes. Please do your own research.