Robinhood Markets (ticker HOOD) extended its July pullback on July 28 as the stock fell below technical support ahead of its second-quarter earnings print, scheduled for after the close on July 29.
HOOD closed the session at $92.13, down 3.68% on the day. The intraday range ran from a low of $88.21 to a high of $93.87, with the open at $92.67 — putting the next major technical support level at $89.13.
From April rally to July reversal
The pullback is the latest act in a classic post-rally unwind. HOOD had rallied sharply from approximately $70 in late April to a July peak near $120 — a 70%+ run-up driven by a mix of crypto-trading volume boosts and the company's own Robinhood Chain blockchain announcement, unveiled on July 1.
Since then, the stock has done nothing but stair-step lower. HOOD traded near $100 when Robinhood Chain's blockchain was unveiled; it has since fallen below $93. The blockchain announcement has not yet translated into sustained stock gains, and the price action now reads as a classic sell-the-news unwind.
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What to watch in the Q2 print
Wall Street analysts expect Robinhood to report revenue in a $1.24 billion to $1.28 billion range for Q2. Hitting the lower end would translate to roughly a 25% jump year-over-year from the $989 million reported in the same quarter of 2025.
The key questions the print will have to answer:
Was crypto, equity and options transaction revenue strong enough? Trading volumes weakened through the bearish market conditions of April–June, and the print will show exactly how much that dragged on the core brokerage business.
Did Robinhood Chain produce any incremental revenue yet? The blockchain was announced as a forward bet; whether it carries any current-quarter upside remains to be seen.
What does Robinhood's net interest margin trajectory look like? HOOD's bottom line is sensitive to the Fed's rate stance — and the timing of the print against the Federal Reserve's interest-rate decision adds an extra layer of macro positioning.
Technicals lean bearish into the print
Technically, the picture for HOOD has turned defensive across multiple timeframes. The stock has fallen below its 50-day moving average and the $95 Fibonacci support zone. The next meaningful support rests at $89.13; a clean break below that would put the late-April $70 base back on the table.
The broader crypto-equity tape offers no relief. The same Fed-decision positioning that pressured Robinhood is also keeping Bitcoin pinned below $64,000 at the start of the week, and the regulatory uncertainty around US crypto legislation has been a soft overhang across the entire crypto-linked equity complex for most of July.
The setup into the print
For a stock that ran from $70 to $120 in eight weeks and has now given back 23%, earnings is the natural inflection. A clear beat on revenue and a constructive Q3 guide could trigger a bounce back to the broken $95 Fibonacci level; a miss risks the $89.13 floor and quickly opens the door to a retest of the breakout zone near $80. Either way, the next 24 hours of price action across the entire crypto-linked equity complex will be set by how the Q2 print lands — and by the Fed's own tone on rates.
