HOOD Q4 Collapse: A Brutal Breakdown Looms if Bulls Fail

Robinhood Markets (HOOD) kicked off Q4 in dismal fashion, plummeting $10 on its opening day to settle at $113.10, a 5.53% decline from its $123.55 high.

This single-session wipeout eliminated HOOD's short-term moving averages, including the SMA 7 ($116.73) and SMA 20 ($116.37), while also breaching the $116.14 pivot point.

Notably, the volume accompanying this downturn was substantial, with Binance spot volume reaching $59 million, far from a thin tape.

This significant selling pressure has shifted the burden of proof onto bulls, who must now demonstrate that $113 is not the starting point for a larger decline. The stock's technical structure suggests momentum has stagnated, with HOOD trading in the lower third of its Bollinger Band channel and the Stochastic indicator entering oversold territory.

However, one critical line stands between the current price and further declines: $108.74, the immediate support level. Losing this point would expose HOOD to a potentially brutal breakdown, with the next structural floor sitting at $104.37.