BY LICIA LESLIE 

August 10, 2023 

Each week, I’ll give an overview of a stock and Licia Leslie will follow that up with a chart analysis the next day. Bill Griffo will chime in with macro analysis and Andrew Giovinazzi will then finish out the week with a volatility breakdown.

Have a stock YOU want us to review? Email my team here. – Mark

Hey Traders,

At first glance, Robinhood Markets (Ticker: HOOD) looks like a boring stock.

It’s only been trading since July 29, 2021.

It debuted at $38 and ran straight up to an all time high of $85 four days later.

That lasted exactly a day as the stock closed at $51 the next day.

And back to $39 a month later.

For an $11 stock, HOOD is a pretty good mover.

It has been in a trading range of $13 on the upside and $8 on the downside since May 2022.

Here is my pitchfork:

If you can catch those highs and lows, there is money to be made.

Right now it looks to me like HOOD is going to continue in this downtrend to at least $10 and then on to $9.35 and quite possibly that low range of $8.00.

It closed below its 50 day moving average yesterday furthering the continued downtrend theory.

You know what to do.

Thanks for Reading … See You Next Tuesday,

Licia Leslie