Robinhood Markets stock price (HOOD) edged slightly lower in its latest session, as the stock attempts to gather positive momentum that may help it rise anew. This comes amid the dominance of the main upward trend in the medium term and trading alongside a short-term rising trend line, with ongoing positive pressure from trading above the 50-day SMA. The stock is also reacting to a forming positive divergence on the Stochastic, after it reached extremely oversold levels relative to the price movement, with early positive signals starting to emerge.

High-Risk Warning: HOOD belongs to a category of so-called "meme stocks," which are often subject to high speculative trading. As a result, price movements can frequently deviate from both technical expectations and financial reports, and may be highly unpredictable.

Therefore we expect the stock to rise in upcoming trading, as long as the support of $89.90 holds on, targeting the first resistance level at $110.50.

Todays price forecast: Bullish