HOOD Price Prediction Next Week
Based on the provided data and recent market developments, here's a comprehensive analysis for HOOD's price movement in the next trading week:
Technical Analysis
The technical indicators show strong bullish momentum:
- RSI at 73.94 indicates overbought conditions but still has room to run
- Price is trading well above the 20-day SMA of $43.11
- Fibonacci levels suggest key resistance at $50.80 and support at $40.38
News Sentiment & Catalysts
- Strong crypto trading volumes reported in Q3 2024 with 165% YoY growth to $61 million
- Positive analyst sentiment with Morgan Stanley upgrading to Overweight
- Increased institutional interest with whale wallets significantly accumulating HOOD tokens
- Trump's pro-crypto stance and potential regulatory changes providing tailwind
Price Projection for Next Week Based on technical and fundamental factors:
- Bullish Case (60% probability): Price likely to test $50.80 Fibonacci resistance
- Base Case (30% probability): Consolidation between $45-48 range
- Bearish Case (10% probability): Pull back to $40.38 support level
Trading Recommendation HOOD shows strong momentum to continue its upward trajectory next week. The combination of:
- Positive crypto market sentiment
- Strong institutional accumulation
- Technical breakout above key levels Suggests targeting an entry around current levels ($45.59) with:
- Primary target: $50.80 (Fibonacci R1)
- Stop loss: $40.38 (Fibonacci S1)
The stock is likely to benefit from continued crypto market strength and institutional interest, though traders should be mindful of the overbought RSI conditions which may lead to short-term pullbacks.
HOOD Similar Chart Price Prediction
The price of HOOD is predicted to go up -12.33%, based on the high correlation periods with VXRT. The similarity of these two price pattern on the periods is 96.57%.
HOOD
VXRT
Down: -12.33%Similarity: 96.57%
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HOOD Analyst's Forecast
Benjamin Budish
Barclays
Buy
Price Target
$49 → $54
Upside
+36.4%
Barclays raised the firm's price target on Robinhood to $54 from $49 and keeps an Overweight rating on the shares as part of a Q4 preview for the brokers group. Trading activity and account formation generally remained "robust," and at Robinhood (HOOD) in particular Barclays sees a "very strong beat likely in the quarter," the analyst tells investors in a research note. The firm continues to be constructive across its brokers coverage into 2025.
Christopher Allen
Citigroup
Hold
Price Target
$25 → $45
Upside
+12.28%
Kenneth Worthington
JP Morgan
Sell → Hold
Price Target
$20 → $43
Upside
+6.02%