Robinhood Markets’ HOOD stock fell more than
The decline interrupted a recent rally that it saw and pushed the price towards
Robinhood falls faster than the wider market
HOOD started trading at around
The move became considerably steeper after it recorded a
But it was not only Robinhood that took a tumble. According to the market heatmap, loss was incurred in the areas of technology, financial, retail, and consumer companies, amongst others. Apple, Alphabet, Microsoft, and Amazon are some of the large stocks hit by a slide.
However, Robinhood’s loss was much bigger than what most major companies suffered, so possibly the broader sell-off played a significant role, but was not the only factor for decline.
The stock may also be seeing some profit-taking as it recently breached above $120.
Can HOOD stock recover from $107?
As can be seen from its chart, HOOD lost much of its early September upward momentum; its Relative Strength Index [RSI] was down to
Anything above the
Near
Final Summary
- HOOD stock fell 6.39% to $107.02 as losses spread across the US market.
- The $105 area provides immediate support, while $110 to $114 could limit a recovery.
