HOOD: Pullback to $12.25 would be healthy for next leg up 💵
The 50 EMA is crossing over the 200 EMA creating a beautiful Golden Cross. A great BUY signal...the downside is this crossover oftentimes creates impulsive candlesticks...i view this as two exposed electrical lines coming in contact and spewing sparks...so long as the position of the 50 EMA on your Daily chart is creeping higher than the 200 EMA...do not fret the fireworks show...the Golden Cross is going to happen
Since Hood exited the triangle pattern it has propelled upwards using 3 channels...we have dropped from the strongest channel to the 2nd strongest...but this is the original channel we exited the triangle from June 14th. We are still within a position a position of strength 💪
ONLY a break below the support of the 3rd channel would cause me serious concerns...too many institutional Buyers are loading up on HOOD so i anticipate an attempted shake out.
Just HOLD until the charts say otherwise...
Since Hood exited the triangle pattern it has propelled upwards using 3 channels...we have dropped from the strongest channel to the 2nd strongest...but this is the original channel we exited the triangle from June 14th. We are still within a position a position of strength 💪
ONLY a break below the support of the 3rd channel would cause me serious concerns...too many institutional Buyers are loading up on HOOD so i anticipate an attempted shake out.
Just HOLD until the charts say otherwise...