Multi-Month Consolidation Ending
Updated
I certainly like this consolidation and chart pattern much more than the company itself but 24/7 trading may help the outlook of what's going on here. Another perceived tailwind may be declining CPI --> more money for retail to spend trading, even though we all know overall USD purchasing power continues to decline regardless of YoY CPI decreases.
Previously, there had been M&A rumors but that seems to have all but died down when SBF/FTX blew up. The DoJ seized 55 million shares of HOOD in January, so something else to keep in mind for this trade.
Previously, there had been M&A rumors but that seems to have all but died down when SBF/FTX blew up. The DoJ seized 55 million shares of HOOD in January, so something else to keep in mind for this trade.
Note
also worth noting that HOOD is crypto-adjacent, which can be a beneficial tailwind during a bullish crypto marketNote
great trade so far. weekly RSI bear div with daily volume bear divs, potential rising wedge as well. may struggle continuing quickly from here.
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