$HOOD - What if?NASDAQ:HOOD There’s a chance that a head-and-shoulders pattern could form, but it’s still very early, and it may not materialize. The right shoulder hasn’t formed yet, and the neckline support at $17 would need to break to validate the pattern.
With the way HOOD is executing, I don’t think this will materialize, but you never know. Technicals often front-run events that could validate the scenario they’re predicting. It’s always good to keep the possibility in mind and plan for what to do if it does.
I’ll be buying if HOOD actually trades down to the targets shown on the chart, as long as the fall isn’t due to fundamental issues.
As always, I share my opinions and trades. I’m not suggesting anyone follow my trades. You do you.
