Volatile ride for Robinhood Markets, Inc. stock price on Friday moving between $53.10 and $60.88StockInvest.us, 1 month ago
The Robinhood Markets, Inc. stock price gained 7.93% on the last trading day (Friday, 6th Aug 2021), rising from $50.97 to $55.01. During the day the stock fluctuated 14.65% from a day low at $53.10 to a day high of $60.88. The price has risen in 5 of the last 10 days and is up by 57.98% over the past 2 weeks. Volume fell on the last day by -10 million shares and in total, 70 million shares were bought and sold for approximately $3.83 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On August 05, 2021 "Wolfe Research" gave "" rating for HOOD. The price target was changed from $61.85 to 12.1%.
The stock has broken the very wide and strong rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at $55.43. A reaction back to this level may hold a second chance to get out before further falls.
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, November 30, -1. Further fall is indicated until a new bottom pivot has been found.
On the downside, the stock finds support just below today's level from accumulated volume at $50.97 and $46.80.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $46.80 may give a huge drop in the stock price.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $7.78 between high and low, or 14.65%. For the last week the stock has had a daily average volatility of 28.21%.
Robinhood Markets, Inc. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.Check full Robinhood Markets, Inc. forecast and analysis here.