Robinhood Markets (HOOD) reported mixed quarterly numbers Wednesday evening and the shares gapped lower this Thursday. Despite this early weakness, the stock is staging a little bit of an intraday rebound and that has got us looking closer at the charts and indicators.
In the daily bar chart of HOOD, below, I can see that share prices moved sharply lower in early trading Thursday and approached the rising 50-day moving average line. Prices have improved and have filled a big chunk of the early downside price gap. It is a long way until the closing bell so anything can happen.
Trading volume expanded from June to early July and then declined so I find it hard to say if traders are staying put or heading out the door. The On-Balance-Volume (OBV) line made a strong move up from May and then stalled in July. The trend-following Moving Average Convergence Divergence (MACD) oscillator is above the zero line but correcting.