# HOOD (Robinhood Markets Inc.) Daily Chart Analysis – 6/2/26Robinhood Markets, Inc. Class ANASDAQ:HOODEthicalxTrader# HOOD (Robinhood Markets Inc.) Daily Chart Analysis – 6/2/26 ### Company Information Robinhood Markets (HOOD) is a leading retail brokerage platform focused on stocks, options, crypto, retirement accounts, and financial services. The stock has become one of the primary beneficiaries of increased retail trading activity and crypto market participation. ### Key Observations • HOOD has spent the past several months consolidating after the sharp correction from the $123+ highs. • Price is now attempting to break out of a multi-month descending resistance trendline. • Shares are currently trading around $87.41 after recently reclaiming: • $80.82 • $85.21 • The stock has built a higher-low structure since the April bottom near $63. • Bulls are attempting to transition from accumulation into a new uptrend phase. ### Pattern Structure • Large descending wedge / falling resistance pattern remains visible. • The recent rally has pushed price directly into the key breakout zone. • A confirmed breakout above the trendline would likely complete the reversal structure and shift momentum back toward the bulls. • The measured move shown on the chart targets roughly: • $98–$100 initially ### Support & Resistance Levels #### Resistance • $89.70 • $93.36 • $98.18 • $99.18 • $106.95 • $109.00 • $113.44 • $117.00 • $123.44 #### Support • $85.21 • $80.82 • $77.77 • $73.10 • $71.70 • $67.98 • $66.91 • $62.92 ### Volume & Trend Notes • Volume has improved noticeably during the recent recovery attempt. • Buyers have consistently defended the $70-$80 range throughout May. • The stock is beginning to print higher lows and challenge overhead resistance. • The next major confirmation comes from whether price can sustain a breakout above the descending trendline. ### Daily EMA Analysis • Price has reclaimed the 50EMA on the daily chart. • The 200EMA is still above current price and remains an important longer-term resistance area. • A reclaim of the 200EMA would significantly strengthen the bullish case. ### ✅ Trading Plan #### Bullish Scenario Trigger: Break and hold above $89.70 Targets: • PT1: $93.36 • PT2: $98.18 • PT3: $99.18 • PT4: $106.95 • PT5: $113.44 Stop Loss: • Close below $85.21 #### Bearish Scenario Trigger: Rejection from resistance and loss of $85.21 Targets: • PT1: $80.82 • PT2: $77.77 • PT3: $73.10 • PT4: $67.98 Stop Loss: • Reclaim above $89.70 ### Summary HOOD appears to be approaching a pivotal technical breakout area. The stock has spent several months building a base after the correction from the $120+ region and is now pressing directly into descending trendline resistance. Bulls want to see a decisive breakout above $89.70 to confirm a larger reversal and open the door toward the $98-$100 area. As long as HOOD remains above $80.82-$85.21, the developing higher-low structure remains intact and favors continued upside attempts.