robinhood markets inc hood was spiking up over 7 on tuesday after closing monday’s session up almost 4 after jjmp securities analyst devin ryan weighed in on the stock the analyst reiterated a market perform rating raised the price target and maintained a 25 price target the move higher on tuesday like on friday and monday was taking place on higherthanaverage volume volume is the total number of shares traded in a security within a specific period of time it’s a momentum indicator used by technical traders to gauge overall interest and sentiment in a stock volume is also used as an indicator to confirm a trend or trend change when bullish trading volume increases the share price of the stock usually moves higher whereas increasing bearish volume when a stock is in a downtrend usually pushes the price lower in contrast lowerthanaverage trading volume usually indicates consolidation which results in the stock trading sideways want direct analysis find me in the bz pro lounge click here for a free trial the robinhood chart robinhood began to stage a massive reversal on may 17 when the stock formed a bullish doublebottom pattern at the 831 mark on that day and the trading day prior robinhood then started to trade in a steep uptrend rising over 43 by tuesday afternoon   the stock is trading in a confirmed uptrend making a fairly consistent series of higher highs and higher lows robinhood’s most recent higher high was formed on july 3 at 1080 and the most recent higher low was printed at the 1020 mark on july 7   eventually robinhood will need to retrace to form another higher low especially because the recent uptick has caused the stock’s relative strength index rsi to surge to about 78 when that happens it could give bullish traders a solid entry point   bearish traders want to wait for robinhood to indicate the top has occurred by watching for the stock to form a bearish reversal candlestick such as a doji or shooting star candlestick when that happens robinhood could retrace lower for at least a short period of time   robinhood has resistance above at 1277 and 1395 and support below at 1163 and 1010