HOOD - Long-Term Technical Forecast

Weekly price is located near and below Ichimoku cloud in the bearish area of the chart. The symmentic pattern was formed with support level at 63.52 and resistance at 94.40.

• If the price breaks the support level at below on weekly close bar so the bearish trend will be resumed.
• If the price crosses the resistance level to above so the primary bullish reversal will be started with 124.31 resistance level as a final reversal target to re-enter.
• Alternatively, the price will be on secondary ranging to be inside s/r channel for direction.

Trading Summary: ranging for direction - bearish trend to be resumed or the bullish reversal to be started.