Analysts have a "hold" rating on Robinhood based on 15 ratings, with a consensus price target that aligns closely with its current trading level. However, the technical picture is notably bullish. The stock is trending above all major moving averages and is consolidating near its 52-week high, just 6% away. This consolidation above rising key moving averages suggests that Robinhood is building a solid base, positioning itself for a potential breakout to new highs.
Both Coinbase and Robinhood have substantial institutional backing and remain popular among retail investors. HOOD, a favorite platform for retail traders and a stock to own, has an impressive 93.27% institutional ownership. Similarly, COIN, a stock popular amongst the retail crowd, also has almost 70% institutional ownership. The strong year-to-date performance of both stocks indicates robust market confidence. Additionally, the technical patterns observed in both stocks are often precursors to significant upward movements.
Coinbase and Robinhood exhibit strong bullish formations, impressive year-to-date performance, and resilient upward momentum, presenting compelling opportunities for investors and short-term traders. Coinbase's recent breakout from its bullish wedge and Robinhood's consolidation near its 52-week high suggest that both stocks could be on the verge of significant breakouts.
Investors will want to keep a close eye on these technical levels: For Coinbase, maintaining above the 50-day SMA will be crucial, while for Robinhood, breaking above the consolidation near its 52-week high could trigger the next leg higher. Given their fundamental strengths and technical setups, both stocks appear poised to deliver potential further gains.
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Get This Free ReportCompany | MarketRank™ | Current Price | Price Change | Dividend Yield | P/E Ratio | Consensus Rating | Consensus Price Target |
---|---|---|---|---|---|---|---|
Coinbase Global (COIN) | 2.4931 of 5 stars | $222.23 | -0.8% | N/A | 44.36 | Hold | $215.50 |
Robinhood Markets (HOOD) | 0.9303 of 5 stars | $22.71 | +0.5% | N/A | 151.40 | Hold | $20.77 |
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