Robinhood Stock Soared 16% Monday on News of S&P 500 Inclusion. Watch These Key Price Levels
Key Takeaways
- Robinhood shares jumped Monday following news that the retail trading platform will be added to the benchmark S&P 500 index.
- The price broke out above a falling wedge pattern on Monday, indicating a continuation of the stock’s longer-term uptrend.
- Bars pattern analysis predicts a potential bullish price target of around $230 and indicates a new move higher could last until December this year.
- During pullbacks in the stock, investors should watch important support levels on Robinhood’s chart near $100, $78 and $67.
Robinhood Markets (HOOD) shares soared Monday on news that the retail trading platform known for commission-free stock trading will be added to the benchmark S&P 500 index.
Late Friday, S&P Global said…
