In our last review of Robinhood Markets ( HOOD) on March 30 we were not fond of the stock and saw better trading opportunities elsewhere. It seems that Robinhood users found better places to trade, too, as the company reported a first-quarter earnings miss Thursday night.
Let's check and see what is going on in the "HOOD." 
In the daily bar chart of HOOD, below, we can see that the shares have struggled since August. HOOD is trading below the declining 50-day moving average line but we don't have enough price history to calculate the 200-day line.
The On-Balance-Volume (OBV) line is pointed down and close to making a new low for its move lower. The Moving Average Convergence Divergence (MACD) oscillator is bearish and below the zero line.
In the weekly candlestick chart of HOOD, below, we see a bearish setup. No bottom patterns and no lower shadows.
A weak close below $10 is likely to precipitate more selling as anyone who bought HOOD in the last three months would be holding a losing position.
In this daily Point and Figure chart of HOOD, below, we can see a downside price target of $8.83.
In this weekly Point and Figure chart of HOOD, below, we see that the software has come up with a possible target of just $3.50.
Bottom-line strategy: Traders who are still using HOOD should now question why they remain with the platform. They may give up trading or switch to another venue. Either way, traders should avoid the long side of HOOD.
