• $60,000 support has held, triggering a short-term bounce
• Rising price on declining volume, signaling weak bullish conviction
• Rejection at VWAP and 0.618 Fibonacci, reinforcing local resistance
• The daily timeframe chart shows that the HOOD stock price remains in a strong downward trend, moving from a high of $154 in October to the current $82.

Robinhood remains below the 50% Fibonacci Retracement and the Supertrend indicator. Worse, the spread between the 50-day and 200-day Exponential Moving Averages has continued to narrow, suggesting it may soon form a death cross pattern.

Therefore, the most likely HOOD share price forecast is highly bearish, with the initial target to watch being at $71.40, its lowest this year. A move below that level will signal further downside, potentially to the 78.6% Fibonacci Retracement level at $60.

• $60,000 support has held, triggering a short-term bounce
• Rising price on declining volume, signaling weak bullish conviction
• Rejection at VWAP and 0.618 Fibonacci, reinforcing local resistance