The Long Investor

$HOOD - RC -

Added 2023-12-08 16:51:47 +0000 UTC

So my issue with $HOOD for the last 18 months is that it has been consolidating sideways within our blue levels. Wave C finished high in July, which means 5 waves down follows....this happened and then they reported a strong earnings......brought on my more people coming back to trading/investing after leaving in 2021, as the market climbed all year in 2023 (also a signal that the top is coming)....remember when the masses chase, there is euphoria and mass buying, then a correction....$HOOD is showing us this now.

That being said, we will watch for the start of an impulse wave here....so far I have just added in the white fib levels to see where a pull back will go to, that is only if Wave 1 has completed now and we are not seeing signs of that happening so far, so when Wave 2 does start, bulls will want to see the price held at the 0.5 Fib or 0.618 Fib....right now we can see the 200 Day MA is at the 0.5 Fib, so this is an area that makes sense right now.

This is not a stock I am looking at right now