Hubspot Tests Key 570 Resistance Amid Bearish Moving Average Confluence

Candlestick Theory
Recent candlestick analysis for Hubspot reveals a consolidation pattern between $530 and $567, with the July 10 session closing at $553.77 (-1.21%). The price tested resistance near $565 (July 9 high: $566.89) but failed to sustain momentum, forming a lower high. Key support holds at $530.47 (July 2 low), evidenced by multiple bounces, while resistance near $565–$567 remains formidable. The narrowing price range suggests impending volatility expansion.
Moving Average Theory
The 50-day moving average ($543) provides dynamic support, with Hubspot trading above this level since early July. However, the 100-day MA ($587) and 200-day MA ($615) slope downward overhead, creating resistance. The 50/100-day death cross in May remains valid, signaling intermediate-term bearish pressure. The current price structure—above the 50-day but below the longer-term averages—suggests near-term consolidation within a broader downtrend.
MACD & KDJ Indicators
MACD hovers near the zero line (MACD: -0.8, Signal: -0.7), reflecting neutral momentum after exiting a bearish crossover in late June. Concurrently, KDJ shows a bullish setup: the %K line (48) crossed above %D (42) on July 8, with %J (60) trending upward from oversold territory. This divergence implies improving short-term momentum despite the price consolidating, suggesting potential bullish reversal if supported by volume.
Bollinger Bands
Bollinger Bands (20-day, 2σ) contracted through late June, signaling reduced volatility, before expanding in July as prices tested resistance. The July 10 close near the middle band ($552) indicates equilibrium. A decisive break above the upper band ($568) or below the lower band ($536) would signal directional conviction. The bands’ current expansion phase favors volatile moves upon range resolution.
Volume-Price Relationship
Volume analysis shows distribution at resistance: the July 9 rally to $566.89 occurred on below-average volume (717k shares), questioning sustainability. Conversely, the July 2 rebound from $530.47 saw high volume (1.05M shares), confirming strong support. Recent down days (e.g., July 10: 996k shares) feature higher volume than up days, indicating persistent selling pressure near $565 resistance.
Relative Strength Index (RSI)
The 14-day RSI reads 49, recovering from oversold levels (<30 on July 2) but still neutral. This aligns with the price rebound from $530 to $567. While not overbought, the RSI’s failure to breach 50 during rallies signals latent bearish pressure. A sustained move above RSI 55 would bolster bullish reversal prospects.
Fibonacci Retracement
Using the major swing high of $881.13 (February 13) and swing low of $474.83 (April 9), key Fibonacci levels are: 23.6% ($570.72), 38.2% ($630.23), and 61.8% ($726.76). Hubspot repeatedly failed to breach the 23.6% resistance ($570.72) in June–July, confirming its technical significance. Current price action below this level validates bearish dominance, with only a decisive close above $570 negating the downtrend.
Confluence & Divergence Observations
A critical confluence of resistance exists at $565–$570, combining the Fibonacci 23.6% level, recent swing highs, and descending 100-day MA. This zone triggered three rejections in July alone. Bullish divergences include KDJ’s oversold reversal in early July amid higher price lows and RSI recovery from sub-30 readings. Bearish volume divergence near resistance tempers optimism. Resolution above $570 or below $530 should determine the next directional bias.