Shares at Robinhood Markets (HOOD) fell Thursday after the online brokerage missed Wall Street’s quarterly income expectations due to a customer promotion program.

The company, which posted third-quarter revenue of $637 million, below the $653.1 million consensus estimate of analysts polled by Visible Alpha, said revenue was down $27 million during the “ due to matches paid to customers for transfers and deposits”.

Robinhood shares fell 17% to about $23.50 in late trading Thursday. Despite the decline, the stock has gained 85% year-to-date, boosted by a rebound in retail trading volumes and the recent announcement of new products at its HOOD Summit 2024 event.

Below, we break down Robinhood’s chart and usage technical analysis to identify important post-earnings price levels to watch out for.

The optimistic moment stops

Since breaking above the top trendline of a ascending triangle earlier this month, shares of Robinhood continued to rise ahead of the company’s quarterly report.

However, this recent price hike PULSE halted on Thursday, with shares giving back three weeks of gains.

Let’s highlight three keys support levels that investors could track and forecast growth based on charts target price to monitor if the stock recovers.

Follow these important support levels

First, it’s worth watching the $24 level, a location on the chart where the stock could attract buying interest near the top line of the ascending triangle. This area, which provided resistance occasionally between June and September it can now turn into a key support region.

Failure of the bulls to defend this area could see the stock drop to around $22, where the price may receive support from a horizontal line connecting a series of similar trading levels on the chart from late May to early October.

A more bearish move could trigger a move down to the $20.50 area. Investors can search entry points close to a trend line at this level connecting the March peak with a series of price action between May and September.

Monitor price target

If Robinhood stock recovers, investors can forecast a potential bullish price target using the principle of measurementa technique that analyzes past price movements to project future movements.

In this case, we calculate the depth of the ascending triangle near the widest section and add that amount to the pattern break point. For example, we add $7.50 to $24, which projects a target of $31.50, an area where investors can decide to lock in profits.

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At the time of writing, the author does not own any of the above securities.