Our earlier review highlighted Robinhood‘s (NASDAQ: HOOD) bullish five-swing structure. Currently, we are analyzing the daily Elliott Wave pattern. This study clarifies the ongoing correction and prepares us for the next strategic phase ahead of a new bullish cycle.
Elliott Wave Analysis
HOOD completed its five-wave advance in Wave I at $153.86 in October 2025. Since then, a larger Wave II correction has begun. This initial pullback should unfold as a three-wave zigzag pattern (a-b-c). The projected decline targets the Blue Box area $87 - $55 .
Our Blue Boxes mark high-frequency reversal zones. From this area, HOOD will either rally to new highs or produce a three-wave bounce. However, if the rally fails, a double three (w-x-y) correction could form later this year. This would create another buying opportunity.
Consequently, this Wave II pullback presents a strategic entry point. Afterwards, the stock will resume its weekly bullish trend. Finally, this will ignite a new rally toward higher highs in Wave III.
HOOD Daily Chart 2.2.2026
Conclusion
HOOD's core weekly uptrend remains firmly bullish. Therefore, traders should target strategic entries during daily pullbacks. Apply our Elliott Wave methodology for precise timing. More precisely, enter the market after a 3, 7, or 11-swing correction finishes.
Additionally, our proprietary Blue Box system identifies high-probability reversal zones. This disciplined approach provides clarity and confidence. Ultimately, it positions you to capture the next major advance.
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