Robinhood Markets Inc (NASDAQ:HOOD) has been turning heads recently with a remarkable rally.
Over the past year, the stock has soared 226%, and it’s up 84% so far this year, including a 17.5% gain just in the past month. Despite this strong momentum, the stock is currently showing signs of short-term hesitation.
Chart created using Benzinga Pro
At $72.60, Robinhood’s share price sits just below its eight-day simple moving average (SMA) of $73.36, which suggests a bearish signal in the near term. This indicates the stock might face a mild pullback or consolidation before it makes its next decisive move.
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