HOOD is currently in an existing downtrend. I reached All-time lows in Jan.’22 and has been moving sideways between 10.86 – 15.14 since. April ’22, price broke down from range signaling continuation of downtrend. Price then pulled back to previous support at 10.86 and rejected it turning previous support into resistance. MACD is in bearish territory and has also cross its signal bearish. This is my cue to enter trade short.
Entering trade short.
Entry: 9.27 Stoploss: 11.23 Target: 6.58, +28.85%, 1.35 RR ratio