Sep. 6 at 11:07 PM
$HOOD | Major Weekly Trendline Breakout
HOOD just delivered a huge +17% weekly move and, more importantly, broke above the long-term descending trendline that has capped the stock since its ~
$154 highs. This is a major technical breakout after months of lower highs. The next major test is
$130 — a level that also lines up with heavy options positioning.
:pushpin: KEY LEVELS
:green_circle:
$120: Put Wall / key breakout support
:dart:
$125: Immediate resistance
:fire:
$130: MAJOR breakout level
:rocket: Above
$130:
$135 →
$140 →
$150
:red_circle: Back below
$120:
$114 →
$110
:zap: GEX:
$120 is currently the Put Wall, while the Gamma Flip sits down at
$113.87. Price trading well above the flip keeps the options structure constructive, but
$125 is currently an acceleration level.
:fire: SEP 18 GEX: This is where it gets interesting. There is massive positive GEX stacked directly above price:
$130 → +
$6.3M
$135 → +
$5.0M
$140 → +
$3.3M
