HOOD Technical Outlook

Looking at the current setup, I'm expecting another leg down in the near term before we see a sustained push higher.

The price action suggests a breakdown below key support is likely in the cards. Specifically, I'm watching the 0.5 Fibonacci level around 91 as the potential target zone—this could serve as a critical bounce point before momentum shifts upward.

The structure doesn't feel ready for a breakout just yet. There's likely more consolidation and downside pressure to work through first. Once we touch that lower support and stabilize, that's when I'd be more confident about upside moves.

Timing these moves is always tricky, but the technical levels are speaking pretty clearly right now.