Shares of Robinhood Markets, Inc. are moving higher on Thursday after stalling at a resistance level. The stock is currently testing the $105 mark, a price point that acted as support in November. If the stock breaks above this resistance, it could signal a bullish move higher.

In the market, rallies often pause or end when they reach resistance levels where a large amount of supply exists. At these levels, buyers can purchase shares without pushing the price higher. Resistance often forms at previous support levels due to sellers who bought earlier at that price and are looking to exit at breakeven.

Robinhood Hits Resistance

Robinhood hit resistance around the $105 level recently. This level had previously served as support in November. When support breaks, traders who bought at that level may hold onto losing positions but place sell orders to exit at breakeven if the price recovers.

If Robinhood trades above the $105 resistance, it would indicate that the sellers creating the supply have left the market. With this supply removed, buyers may be forced to outbid each other to acquire shares, potentially driving the stock higher.

Robinhood Markets Inc. stock rose significantly on Wednesday, driven by analyst price target upgrades and a recent restructuring announcement. Argus Research maintained a Buy rating and raised its price forecast from $90 to $110, following similar positive adjustments from other Wall Street firms. The stock gained 12.27% to trade at $108.58, outperforming the broader market as the Nasdaq rose 0.52% and the S&P 500 gained 0.07%.

Analyst Price Forecast Revisions

Argus Research's revision follows a series of positive updates earlier in the month. On June 11, Needham maintained a Buy rating and raised its forecast to $97. Prior to that, Cantor Fitzgerald maintained an Overweight rating on June 9, keeping its price forecast at $110.

Corporate Workforce Reduction Plans

On Tuesday, Robinhood announced a reduction in force involving approximately 10% of its full-time employees alongside the closure of a small number of open roles. The company stated it is taking this action to maintain a high-performance culture, further accelerate product velocity, and remain lean and disciplined. Management emphasized the decision stems from a position of business strength, noting June month-to-date average daily trading volumes reached record levels across equities, options, and prediction markets.

Financial Impact and Restructuring Charges

The company estimates it will incur total cash restructuring and related charges of approximately $28 million. This includes approximately $20 million for employee severance and benefits costs and roughly $8 million for share-based compensation. Robinhood expects to recognize the accrual for these charges in the second quarter of 2026.

Upcoming Quarterly Earnings Schedule

Robinhood is expected to report its second-quarter earnings on July 29. Analysts estimate earnings per share of 41 cents on quarterly revenue of $1.19 billion. In the first quarter, the company reported EPS of 38 cents, missing the estimated 39 cents, while revenue came in at $1.07 million, below the $1.14 billion estimate.