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Resurgent Online Brokerage Forming High Tight Bull Flag

by | Jul 14, 2024

Robinhood (HOOD) shares of the online broker are staying quite strong as they build a high tight bull flag near 22 after already being up 75% year to date and continues to see bullish option flow position for further upside into year end. HOOD formed a bull candle Friday and as long as holds the 21.50 level there is potentially to breakout above 23.25 value highs for this month and target the 25 level in the short term while longer term likely can see 30 into year end, especially if the crypto markets rebound as they are a name that benefits from increasing trading volumes in the space. Last week saw buyers of 5000 Sept $27 calls and 5000 Feb $20 puts sold to open at $2.95 showing strong confidence.

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