As classic as it gets. A break and retest. Last time we were at this level we broke out. Now, we are retesting it.

I am not currently aware of any fundamental information that would indicate Robinhood losing money, or some lawsuit, or anything like that. So, upside is the idea. We have a broader market pullback as a whole. So, a simply rising tide floats all boats, but the swells make some go higher is the play here.

If the broader market turns around to maintain an uptrend. HOOD might just see new highs again. Easy 50% move from here if this idea plays out. Easy risk to manage from a swing perspective currently as well.

You could take some long entries off the current consolidation, as it lines up with a prior high volume zone that led to the prior breakout.

Or, you could take less risk, and wait for the levels just slightly lower to get into the long swing.

Each of these has tight risk. With large reward. Will you wait? Or will you join?