After IPO-Bulltrap Completed
Hello, i stumbled over Roblox Stock and its freaking overvalued at currently 67 Billion Market Cap!
For Comparison EA Games has a market cap of 35B.
There is a pattern in hyped IPO´s i noticed:
After the overpriced listing there is a Bulltrap before going in a deep correction ---> See Robinhood, Coinbase, C3.ai Charts, they all had a short bullrun before absolute tanking downwards.
Roblox just had this shorttermed bullrun and should soon dramatically drop.
It has tightening Bollinger Bands on the Daily, i expect another lower highs to my red short zone before dropping, thats where i suggest to go short.
As always i recommend to use sl altho im pretty confident in this.
DYOR and please leave a like =)
For Comparison EA Games has a market cap of 35B.
There is a pattern in hyped IPO´s i noticed:
After the overpriced listing there is a Bulltrap before going in a deep correction ---> See Robinhood, Coinbase, C3.ai Charts, they all had a short bullrun before absolute tanking downwards.
Roblox just had this shorttermed bullrun and should soon dramatically drop.
It has tightening Bollinger Bands on the Daily, i expect another lower highs to my red short zone before dropping, thats where i suggest to go short.
As always i recommend to use sl altho im pretty confident in this.
DYOR and please leave a like =)
Note
shortterm im targeting my green zone from 69-76.midterm this should go even lower.
Note
well, the drop already began, didnt reach my targets :(Note
if you have a short open, i would propably not close it in my green zone but wait for new all time lows (under 60usd)Note
altho this could go on i would rather soon close the whole trade. worst case could be like 10-20 usd i guess.
i wouldnt consider roblox massively overvalued anymore, so i personaly would rather close it too early then too late.
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