Robinhood stock tests $89 support before Q2 earnings

Robinhood stock extended its decline on July 28 as investors weighed regulatory uncertainty, weaker trading activity and the company’s upcoming second-quarter earnings. Summary HOOD fell 3.68% to $92.13, extending its decline from the July peak near $120. Analysts expect Robinhood to report $1.24 billion to $1.28 billion in second-quarter revenue. The stock has fallen below its 50-day moving average and $95 Fibonacci support. $89.13 is the next support level, while earnings could determine HOOD’s short-term direction. Robinhood stock extends its July decline Robinhood Markets (HOOD) traded around $92.13 on July 28, down 3.68% during the session. The stock opened at $92.67, reached an intraday high of $93.87, and fell as low as $88.21 before recovering part of the loss. The latest decline left HOOD about 23% below its July peak near $120. Shares had rallied sharply from approximately $70 in late April before reversing course during the second half of July. Uncertainty surrounding US crypto legislation has added pressure across crypto-linked stocks. The pullback also comes before Robinhood reports its second-quarter results after the market closes on July 29. Investor attention will ...