As of April 30, 2026, ROOT (Root, Inc. Class A Common Stock) is in a downtrend state on the monthly chart, with a confidence level of 74%. Key support is at $48.8 and key resistance at $75.2. Monthly down-swing after a failed rally peak; price ($54.46) is below EMA50 ($95.84) and EMA200 ($75.25) but sitting just above SMA50 ($48.80) with a small bounce attempt.
Base-building above the $48-$50 area (SMA50/round-number support), then a mean-reversion rebound toward the EMA200 zone; Elliott view: corrective wave (C) likely maturing, setting up a counter-trend wave (1) up; Fib view (approx.): current area is a deep retrace of the $140->$50 leg, so first rebound targets cluster at prior breakdown levels.
Support fails and the downtrend resumes with a flush toward the prior swing-low zone; Elliott view: continuation of a larger bearish impulse (wave 3/5) if $48 breaks; watch for large red closes near lows on the monthly as a tell of acceleration.
Monthly close below $48.80 (SMA50) would confirm continuation lower.
Two monthly closes back above $75.25 (EMA200) would invalidate the current downtrend regime.
Layer bids at/just above SMA50 support, add on a controlled break/retest lower, heavy add only at prior pivot/base zone if capitulation occurs.
Trim into major MA/overhead supply (EMA50 zone) and prior swing distribution; heavier trims near the ~$140 prior peak area; full exit only if a multi-year extension overshoots prior highs.
As of April 30, 2026, ROOT (Root, Inc. Class A Common Stock) is in a downtrend state on the monthly chart with 74% confidence. Monthly down-swing after a failed rally peak; price ($54.46) is below EMA50 ($95.84) and EMA200 ($75.25) but sitting just above SMA50 ($48.80) with a small bounce attempt.
On the monthly timeframe, ROOT has key support at $48.8 and key resistance at $75.2. The most likely scenario (bullish) targets $62.0 and $75.0, with a revert level at $55.0.
ROOT (Root, Inc. Class A Common Stock) is currently classified as downtrend on the monthly chart, with 74% confidence. Confirmation requires: Monthly close below $48.80 (SMA50) would confirm continuation lower. This would be invalidated by: Two monthly closes back above $75.25 (EMA200) would invalidate the current downtrend regime.
The most likely scenario (bullish) targets $62.0 and $75.0, with a revert level at $55.0. The alternative scenario (bearish) targets $44.0 and $35.0.
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