$HOOD Key Level to Watch Is $70 Before Volume Gap to $40

PeterDiCarlo
03-31

Stopped trading $Robinhood(HOOD)$ at the end of January.

It is down 40% since.

Not touching it yet.

Monthly chart is still showing a bear cycle. Until that flips there is nothing to do here.

The level to watch is $70. If that breaks we have a volume gap all the way down to $40.

I am not looking for a short term bounce.

Bounces in bear cycles are traps.

You buy it. It fades. You hold the bag.

I am waiting for the full cycle shift back to bull before I even think about an entry.

Buying dips in a bear cycle feels smart. It rarely ends that way.

I will be waiting for confirmation of a rotation on the MBX

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