HOOD has to hold the line hereRobinhood Markets, Inc. Class ABATS:HOODGatorResearchWe looked at this one before when it finally broke out on June 15, but the trade was to be patient with this one. It was a nice cup and handle breakout, but has struggled since then as the market grinds at the index level and investors/traders are stepping off the gas a bit. It’s now back testing that breakout level so it’s back on my radar. Fintech has been a steady leader for the last 4 weeks, and HOOD is a major player in fintech. Crypto is also beginning to show relative strength in my dashboard, and more active crypto markets means more trading volume on Robinhood. Would like to see bitcoin and others improve to support this thesis. HOOD is back testing the 50-day breakout that came when price broke out back in June. If a trend is to develop, it should turn here or at least hold the 50-day. It’s already broken down from 200-day, so that will be up next. You can see it’s put in a series of lower highs connected by blue line. To monitor for continuation, want to see breakout from that line, but then to break out from 120 and clear those recent lower highs to end that pattern. It merits a watch here, but nothing worth overselling yet.