Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Robinhood stock price is currently trading at $9.57 with a nominal rise of 0.42% in the last 24 hours with a current market cap of $8.722 Million.</a> </li> 
 <li> <span>2</span> <a>Robinhood stock price decreased by 8.42% over the past seven days.</a> </li> 
</ul> 
<p>Robinhood stock price has been on a downtrend for the past three months, as it faced resistance from the higher levels and formed lower lows. The stock has also broken below the key moving averages, which indicates further weakness.</p> 
<p>The stock has created a bearish pattern and erased the gains it made in the previous months. Robinhood (NASDAQ: HOOD) stock has returned to its previous breakout level, which could act as a support. The technical analysis suggests that the stock is oversold and could bounce back from the lower levels. However, the stock needs to show some signs of strength and reversal before confirming a pullback rally.</p> 
<p>HOOD stock price is in a correction phase but trading near the crucial support of $9.00. If formed, a bullish candle would indicate that buyers are active and will try their best to rebound. HOOD stock price closed the previous session at $9.57 with an intraday rise of 0.42%. If the buyers succeed in defending the current support, then the possibility of a bounce back will increase. However, if the sell-off continues, and HOOD stock drops below lower levels, then more downfall is possible.</p> 
<p>Buyers tried multiple times to break the higher range and expand upwards. However, due to the strong presence of sellers, prices faced rejection which shows that sellers are still active on higher levels.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-robinhood-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of Robinhood Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="466" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-950-1024x466.png" alt="Robinhood Stock: Will HOOD Stock Bounce Back From the $9 Level?" class="wp-image-171939" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-950-1024x466.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-950-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-950-768x349.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-950-750x341.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-950-1140x519.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-950.png 1433w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Robinhood.1D.NASDAQ by <a href="https://www.tradingview.com/x/yHaOueIo/https://www.trahttps://www.tradingview.com/x/yHaOueIo/dingview.com/x/yHaOueIo/">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>Robinhood price is trading below the downward-sloping 50-day and 200-day EMAs, showcasing a downtrend. However, the Robinhood price has gone far away from the EMAs.&nbsp;</p> 
<p>The MACD generated a negative crossover and the histogram is also red, indicating bearishness. The RSI denotes weakness but is near the oversold territory. The current value of RSI is 27.11 points. The 14 SMA is above the median line at 38.15 points which indicates that the Robinhood <a href="https://www.thecoinrepublic.com/2023/09/06/hood-stock-price-forecast-is-more-fall-pending-in-robinhood/" target="_blank" rel="noreferrer noopener">stock price</a> is bearish.</p> 
<h3 class="wp-block-heading" id="strong-weekly-time-horizon-analysis-strong"><strong>Weekly-Time Horizon Analysis</strong></h3> 
<p>Robinhood stock shows seller strength on the weekly charts. Moreover, the price is below the key EMAs, which shows further weakness in the stock. The RSI curve is near the neutral region at 44, and a negative outlook was noted, indicating bearishness in the stock. The MACD persisted to form red bars, and a bearish crossover was noted, which signals corrective moves.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>HOOD stock technical oscillators also support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the HOOD stock price. Robinhood price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> $8.16 and $5.11</li> 
 <li><strong>Resistance Levels: </strong>$11.21 and $12.57</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

Robinhood Stock: Will HOOD Stock Bounce Back From the $9 Level?

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 28, 2023

Brazil’s Central Bank Tightens Rules as Crypto Adoption Rises

SEC extends the deadlines for ARK 21Shares and VanEck’s applications for spot ether ETFs

Avalanche Price Prediction: Significant Drop in Active Addresses

XRP Price Prediction as XRP Trading Volume Exceeds BNB. Can XRP Top $1 Before End of 2023?

Trader Says One Dogecoin and Shiba Inu Rival Is Set for Big Correction, Updates Outlook on Bitcoi...

BIS Says DeFi Could Bring 'New Generation' To Finance Market

Join our free newsletter for daily crypto updates!