Robinhood Markets (HOOD.US) stock surged 26.0% during today's session after the trading platform operator announced it is extending its trading hours. Users can now trade on the platform from 7 am to 8 pm ET, however the company is working towards 24/7 investing. Previously, Robinhood users could trade via the brokerage 30 minutes before the open and 2 hours after the close. “Our customers often tell us they're working or preoccupied during regular market hours, limiting their ability to invest on their own schedule or evaluate and react to important market news,” Robinhood said in a blog post Tuesday.
Robinhood Markets (HOOD.US) struggled since its July 2021 IPO with a slowdown in trading volumes pressuring the stock. Nevertheless buyers managed to halt declines around $10.00 level and since then buyers have become more active. During today's session price broke above the upper limit of the wedge formation, 200 SMA (red line) and local resistance at $15.39. If bulls manage to uphold current momentum, then upward move may accelerate towards first major resistance at $25.85, which coincides with 23.6% Fibonacci retracement of the last downward wave. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
