Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Robinhood stock price (NASDAQ: HOOD) gained 28.86% in the previous month.&nbsp;</a> </li> 
 <li> <span>2</span> <a>HOOD stock price sustained above both the EMA’s and displayed a golden crossover.</a> </li> 
 <li> <span>3</span> <a>Robinhood Markets Inc. beat the EPS estimates as well as revenue estimates in quarterly earnings.&nbsp;</a> </li> 
</ul> 
<p>Robinhood stock price (NASDAQ: HOOD) gained 28.86% in the previous month and attempted to break the $13.00 level. It formed a bullish continuation pattern and created a positive hope for long-term investors.&nbsp;</p> 
<p>HOOD stock managed to climb above the 50-day and 200-day EMA showcase uptrend. Previously, EMAs displayed a golden crossover which further boosted the confidence of investors.&nbsp;</p> 
<p>At the beginning of July, Robinhood stock broke the $10.00 hurdle which triggered the positive sentiment. Later, stock prices rose by forming higher highs and rallied by 30% approx in a short period of time.&nbsp;</p> 
<p>The momentum in the stock halted near $13.00 and prices entered into a range of consolidation. Robinhood Markets Inc released its quarterly earnings on August 2, 2023.&nbsp;</p> 
<p>The stock price fell 5.47% in the after-hours session which indicates that the stock is expected to open a gap down near $11.76.&nbsp;</p> 
<p>Robinhood <a href="https://www.thecoinrepublic.com/2023/02/27/robinhood-stock-prices-stumble-plans-repurchase-with-doj-in-ftx/" target="_blank" rel="noopener noreferrer nofollow">stock price</a> closed the previous session at $12.44 with an intraday decline of -3.34%. The market capitalization stands at $11.23 Billion.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-robinhood-stock-reacted-negatively-after-earnings-strong"><strong>Robinhood Stock Reacted Negatively After Earnings?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/pRJHqgzDyM7H6PWGahAlQvLKiyO4ZvcuRy_sp3bEWA8Z9PYoT7RjG6mZmjr_jO7o_bIcWMnt3PwN8mEWz2JUiuJNJFSOJFS3fv5v36DVjUBx6qtUsVO0_WWNKg-nGPNyjOjJAaRug22LXzGJMW1-pg" alt="Robinhood Stock: Is Hood Stock on a Journey to Reach $15?"> 
  <figcaption class="wp-element-caption">
    NASDAQ: HOOD daily chart by <a href="https://www.tradingview.com/x/PxxXJyO4/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Robinhood stock price (NASDAQ: HOOD) formed a strong base near $10.00 before displaying a breakout.&nbsp;</p> 
<p>It performed well in the previous month and buying volume also witnessed a spike. It indicates some genuine investors might have injected money into the stock. So, any short-term downfall is expected to be easily absorbed by the buyers.&nbsp;</p> 
<p>Robinhood Markets Inc. released quarterly earnings which is better than expected. It reported an EPS of 0.03 and revenue of $486 Million.&nbsp;</p> 
<p>The company beat the EPS estimate by 326.83% and the revenue estimate by 2.76%. Despite the <a href="https://www.thecoinrepublic.com/2023/02/27/robinhood-stock-prices-stumble-plans-repurchase-with-doj-in-ftx/" target="_blank" rel="noopener noreferrer nofollow">HOOD stock</a> reacted negatively which is quite surprising.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-hood-stock-remains-bullish-on-the-weekly-time-frame-strong"><strong>Hood Stock remains bullish on the weekly time frame</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp; 
 <div id="tradingview_384ce"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"> <a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a> 
 </div> &nbsp;&nbsp; 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp; 
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NASDAQ:HOOD",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "dark",

  "style": "1",

  "locale": "en",

  "toolbar_bg": "#f1f3f6",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_384ce"

}

  );

  </script> 
</div>  
<p>Hood stock price is mildly bullish on a weekly time frame and buyers seem to be active at lower levels.&nbsp;</p> 
<p>Till Robinhood <a href="https://www.thecoinrepublic.com/2023/02/27/robinhood-stock-prices-stumble-plans-repurchase-with-doj-in-ftx/" target="_blank" rel="noopener noreferrer nofollow">stock price </a>sustained above $10.00 the trend is expected to remain in an upward direction. The buy line of the supertrend is placed at 11.41 which also confirms the uptrend.&nbsp;</p> 
<p>The MACD curve generated a negative crossover and the histogram bar is declining indicating mild bearishness. The RSI at 59 cooling off from the overbought territory and might test the neutral zone.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Robinhood stock price (NASDAQ: HOOD) fell 5.47% reacted negatively despite beating the earnings estimates.&nbsp;</p> 
<p>However, $10.00 is expected to act as a strong support and prices are likely to bounce back. Till HOOD stock holds $10.00 the probability of reaching $15.00 remains high.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $13.23 and $15.00</li> 
 <li>Support levels: $10.00 and $9.00</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Robinhood Stock: Is Hood Stock on a Journey to Reach $15?

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Thecoinrepublic.com

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