Robinhood Markets pierce pivotal support - Analysis - 28-04-2022

Robinhood Markets' stock (HOOD) declined 4.9% in the last session after the CEO said he intends a 9% reduction in the workforce. 

The stock surpassed the pivotal support of 9.94, amid the dominance of the main downward trend in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI, with trading volumes surpassing 19 million shares. 

Therefore we expect more losses for the stock, targeting the first support at $8, provided the support of 9.51 was breached. 

Expected trend for today: Bearish