Robinhood Price Levels to Watch as Stock Drops After Promotion Causes Revenue Miss
Key Takeaways
- Robinhood shares plunged Thursday after the online brokerage company missed Wall Street’s quarterly revenue expectations due to a customer promotion program.
- The stock broke out above the top trendline of an ascending triangle earlier this month, though the recent bullish price momentum came to a halt after the company’s third-quarter results.
- Investors should watch important support levels on Robinhood’s chart around $24, $22, and $20.50.
- The measuring principle, which calculates the depth of an ascending triangle near its widest section and adds that amount to the pattern’s breakout point, forecasts an upside target in the stock of $31.50.
Shares in Robinhood Markets (HOOD) plunged Thursday after the online brokerage…
