Robinhood Markets Inc (NASDAQ:HOOD) stock is trending late Monday after the company provided an update on its trading volumes for March.
- Robinhood Markets stock is trading near recent lows. What’s the outlook for HOOD shares?
Robinhood Sees Higher Trading Volumes In March
After the market close on Monday, Robinhood reported month-to-date trading volumes for the period spanning March 1 to March 27.
Equity notional trading volumes totaled approximately $196 billion, compared to $194.4 billion in February. Options contracts traded totaled 187 million versus 180.3 million last month.
Crypto notional trading volumes were approximately $16 billion and approximately 2.6 billion event contracts were traded on the platform. In February, crypto notional trading volumes totaled $25 billion and events contracts traded totaled 2.4 billion.
HOOD Stock Trades At Depressed Levels
HOOD Price Action: Robinhood shares were down 0.34% in after-hours Monday, trading at $64.94 at the time of publication, per Benzinga Pro. The stock has dropped approximately 42% year-to-date.
Robinhood stock closed trading 13.3% below its 20-day SMA and 36.8% below its 100-day SMA, keeping the intermediate trend pointed down despite occasional bounces. RSI was last at 34.41, which sits in neutral territory but leans toward “washed-out” conditions if sellers press further. Key support can be found around the $65 level.
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