The Trust Layer for Market Analysts

The analysis focuses on HOOD, identifying a descending channel pattern. The stock closed at 114.97, facing resistance from a high of 150. A potential bounce and breakout from the channel is analyzed, with a downside target of 99 to 100. The weekly chart shows an explosive move over the last few months, hitting a high of 153.86. The daily chart confirms a descending channel, reminiscent of a previous pattern. The analyst points out the ping-pong nature of the price action, testing resistance and support. On the hourly, HOOD bounced from 102.10 within the channel. To confirm a breakout pattern, the price would need to sustain above the 119.80 level, otherwise consider a fake breakout