HOOD: Can the $73–$77 Support Zone Hold?

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HOOD: Can the $73–$77 Support Zone Hold?Robinhood Markets, Inc. Class ABATS:HOODDL_INVESTFollowing a request from a TradingView community member, here’s my daily chart analysis of Robinhood Markets (NASDAQ: HOOD). HOOD closed at $80.91, up 3.21%, after the previous session’s sell-off reached the $73–$77 support zone. That area served as a consolidation base in May. Buyers have responded on the first test, but the daily chart still shows lower highs and lower lows since the September peak near $126. What would improve the setup? A higher low above the support zone followed by a daily close above $85–$88, the area of the latest failed bounce, would be the first sign that sellers are losing control. The falling 50-day EMA at $99.82 is the next major trend test. What would invalidate the bounce? A daily close below $73 would break the May base and bring the prior swing low at $63.52 back into focus. For now, my daily bias remains bearish. The next thing I’m watching is where the next pullback finds buyers. A higher low would give this bounce a chance to develop into a reversal. This post reflects my personal interpretation of the chart and is provided for informational and educational purposes only. It does not constitute investment advice or a recommendation to buy, sell, or hold any security. The scenarios discussed are illustrative. Investing involves risk, including the possible loss of capital. Laurent - Private Investor ✅ DL INVEST | Community Leader