$HOOD - Robinhood


Make no mistake this is a $200+ stock and a company to hold in a long-term portfolio. That said, here's my assessment:
At $60-70 it was an obvious buy for long-term and if you were in it for a swing, it's been a great trade now up +70%. -We have price doing what appears to be a bearish backtest of the ichimoku cloud while strength indicators topping again on weekly, and price attempting to hold above the diagonal resistance. The red box is to illustrate that if price fails to break past these levels then the path I've outlined becomes more realistic. It could make an equal low or a higher low. Only time can really dictate this. If it can, then great we go higher.
Depending on how you're positioned, I think selling covered calls for year-end at $150-175+ is the prudent approach as you can use the recent upside to sell some volatility and create a yield on the shares you own
HOOD-1.66%
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