Hubspot Drops 3.96% to $582.04 Amid Bearish Technical Signals

Hubspot (HUBS) experienced a 3.96% decline in the most recent trading session, closing at $582.04, marking the second consecutive down day and a cumulative 4.49% loss over this period. This extended pullback occurs against a backdrop of sustained volatility, warranting a detailed technical assessment across multiple indicators.
Candlestick Theory
Recent candlesticks display bearish momentum, with the last two sessions forming consecutive down candles closing near intraday lows. The June 9th session (high: $610.61, close: $606.06) showed rejection near the $610 resistance zone, followed by an extended bearish candle on June 10th confirming downward pressure. Key support emerges at the May 29th swing low ($578.25), with secondary support near $565 – the April 23rd reaction low. Resistance remains firm between $605–$610, aligning with last week’s consolidation ceiling.
Moving Average Theory
The 50-day moving average (approx. $615) crossed below the 100-day MA (approx. $640) in late May, signaling deteriorating intermediate momentum. Current price trades below all three key MAs (50, 100, 200-day), with the 200-day MA (approx. $570) now acting as major support. The configuration indicates an entrenched bearish trend, reinforced by the moving averages trending downward across timeframes.
MACD & KDJ Indicators
The MACD histogram remains below zero with the signal line in bearish territory, though the histogram’s slope shows tentative flattening – suggesting potential momentum exhaustion near-term. The KDJ oscillator reflects oversold conditions (K: 18, D: 24, J: 6), with the J-line deeply compressed. This divergence implies selling pressure may be overextended, increasing reversal probability if bullish catalysts emerge.
Bollinger Bands
Price breached the lower Bollinger Band ($585 ±) during the recent selloff, indicating extreme downside momentum. Band width expanded 15% this week, confirming volatility acceleration. Historically, such expansions preceded short-term reversals in HUBS, though continued lower-band hugging could signal further downside targeting the May low ($578.25).
Volume-Price Relationship
Distribution patterns are evident, with the two down days accompanied by elevated volume (1.14M and 0.51M shares vs. 30-day avg ~0.68M), confirming institutional participation in the selloff. The May 30th rally (2.01% gain) saw notably higher volume (1.42M shares), establishing $590 as a high-volume support node. Sustained trade below $590 on elevated volume would signal bearish continuation.
Relative Strength Index (RSI)
The 14-day RSI sits at 36, moving toward oversold territory (<30) but not yet signaling capitulation. This neutral positioning allows for further downside before reaching historically significant reversal zones. Bearish momentum dominance remains unless RSI reclaims the 45–50 midline. Notably, RSI failed to reach overbought (>70) during April-June recovery attempts, highlighting persistent selling pressure.
Fibonacci Retracement
Using the March peak ($803.35) and May trough ($578.25), critical Fibonacci levels emerge:
- 38.2%: $657 (recent resistance)
- 50%: $690.80
- 61.8%: $724.55
Current price trades below the 23.6% retracement ($608), showing weakness. Downside targets include the October low ($519.06), aligning with the 78.6% retracement ($542). A breach of the May low ($578.25) would expose this level.
Confluence & Divergence Observations
Bullish Confluence:
- Oversold KDJ reading aligns with Bollinger Band undershoot
- RSI approaching oversold territory near major 200-MA support ($570)
- Volume-backed support at $590–$580 zone
Bearish Confluence:
- Death cross (50<100 MA) confirmed
- MACD in bearish territory
- Sustained closes below 10-day EMA ($595)
Notable Divergence:
While KDJ signals oversold conditions, volume trends confirm distribution. This conflict requires resolution – either capitulation selling forms a durable bottom, or temporary oversold relief rallies face renewed selling pressure below $610 resistance.
Probabilistic Outlook
Current technicals suggest Hubspot is testing critical support between $570–$580. Failure to hold this zone could accelerate declines toward $540–$550. Any recovery attempt would need to reclaim $600 with confirming volume to negate the immediate bearish structure. The weight of evidence leans bearish short-term, though oversold oscillators warn of potential consolidation or technical rebound near historical support levels.