$HOOD Weekly Technical Setup

The 20-week moving average has flipped to resistance, which isn't the ideal scenario we'd want to see here. However, there's a meaningful buy block sitting below that could step in as support.

If that level fails to hold, we're likely looking at a test of the 50-week SMA next. Historically, this zone has proven itself as solid support when things get tested, so it's definitely one to monitor.

The structure here suggests watching those two key levels closely—the immediate buy block and that longer-term moving average acting as a backstop.