$RBLX to 150s on a pullback (swing)
Updated
Idea:
- Swing long
RBLX on a pull back to 129 to 124 (aggressive). Be ready to add at 50% Fib retracement.- Or, start at 50% fib retracement (but it's unlikely price will get there in the near-term)
- Hard stop if price breaks below 100, but consider stopping if price breaks 103 (uptrend support)
Rational:
- See technical comments on chart (MACD, Volume, and Price strong bullish)
- Metaverse hype continues, and buyers will jump in on a pullback
- Strong Institutional buying from Nov 15 - Nov 19
- Short interest has decreased nearly 10% recently, expect this to drop further next week
- Top 25 stock on WallStreetBets chatter
- Recent Buy recommendation from InvestorPlace
- 150 is the highest price target by Morgan Stanley. I expect price to get there, and once it does, look for the Short opportunity.
- The overall sentiment of big-money options traders is split between 42.31% bullish and 57.69%, bearish.. so we should get a pull back in the near-term.
Good luck, and trade your plan!
Trade active
Got my first aggressive entry: 129.60. Following the add plan shown on the chart on the chart.Trade active
Got my add on the 2nd aggressive entry point. New Avg 127.18. Still following plan on the chart.Trade active
well.. so far missed the conservative entry / super add level.. Avg is still 127.18Trade active
Added at 112. New avg is 118.53Trade active
Added a bit more at 110s . Average 115.32Trade closed: stop reached
Stopped out at 99s (-13%) . I think there is a great long-tern buy opportunity at these prices.
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