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Benzinga
Benzinga
Business
Melanie Schaffer

Could Robinhood Stock Soar 30% From Here? A Look At The Chart

Robinhood HOOD Nasdaq Coinbase

Robinhood Markets, Inc (NASDAQ:HOOD) was trading about 2% higher on Wednesday in tandem with Coinbase Global, Inc (NASDAQ:COIN), which received a positive reaction to its second-quarter earnings miss.

The upswing in the two trading platforms' stocks was boosted by a bullish reaction in the general markets to consumer price index data that indicated inflation may be past its peak. Despite trading higher, Robinhood and Coinbase failed to break up from the symmetrical triangles that each stock has been tightening into since Aug. 4.

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