HOOD gave a multi-year breakout, then retested the 84.98 level and held. Price has now broken the descending trendline from the ~154 high and is closing at 108.15 (+2.80%).
Plan
50% position here, on the trendline break above the 85 retest
Add to 100% on a weekly close above 122.39
Trail the stop higher once price clears 122.39
Levels
Support / retest zone: 84.98
Broken resistance: descending trendline from ~153.66
Add trigger: 122.39 (weekly close)
Upside reference: 153.66 (prior high)
Plan
50% position here, on the trendline break above the 85 retest
Add to 100% on a weekly close above 122.39
Trail the stop higher once price clears 122.39
Levels
Support / retest zone: 84.98
Broken resistance: descending trendline from ~153.66
Add trigger: 122.39 (weekly close)
Upside reference: 153.66 (prior high)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.