RBLX Serious Bounce PotentialPrice has poised itself above this channel that has formed
A comparison can be made to a previous price point that is very similar
I expect we will see a comparable bounce (oval)
This is further emphasized by the RSI
RBLX trade ideas
RBLX Giant Symm TriangleRBLX has consolidated and formed a pattern of higher lows and lower highs (one could also make the case for a bull flag but I like the triangle more). The trade is simple. On the long side, look for a break above 126 to ride the wave to 140 (ATH). On the short side, look for a close below 105 for a short down to about 97. Use a 1to1 risk-reward on either position.
rblx flaggingRblx is flagging right now, also just hit a S13 on the daily, just hit a green 2 so it's a bit tricky here. At higher time frames we will get a weekly 9 next week, i'm always very careful with weekly 9s. If you have RBLX i'd definitely hang on and see how it reacts to the weekly 9 next week. I will be looking to add if it trades closer to the bottom of the flag or horizontal support (around $100-$105). This very well be getting close to a breakout of the flag, would need a daily close (or 2) out of the range.
How far RBLX could go down?Today RBLX runs out of steam, distanced -12% from the top, and filled the gap!
I think this overwhelming sell-off will continue and could push the price down to 100-110 once again!
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
Rblx White lines - Falling wedge
Yellow lines - Bear channel
Been headed lower since last earnings.
Headed to support today which should be in the 95$ area ; Also 50sma in that area. We could either bounce here today and continue down this bear channel or we cut straight through support to begin closing that gap and retesting the breakout from the last earnings
midterm outlook, we are headed back to 80$
$RBLX set up waiting for signal, think it continues to drop, watching pattern for call/put entry. bearish divergence on RSI with lower highs and lower lows on small time frames.
$RBLX Still bullish!Rblx Is holding pretty well on the weekly chart and is due for a bounce candles not too strong on the weekly but most def will follow the trend on the weekly
$RBLX | 12/13-12/17 | Watchlist #2 $RBLX +124
(Over 124 for calls)
Technical Analysis:
Descending triangle on the daily chart
After triangle consolidation, looking for a breakout
News catalyst: Ralph Lauren Dropped a Digital Winter-Themed Collection Exclusively on Roblox
Roblox Holds the BreakoutRoblox struggled between June and November, and now it may be coming to life.
The first pattern on today’s chart is the high-volume gap on November 9. Over 95 million shares traded on that surge, more than the previous 13 sessions combined. A record-setting day like that represents a potential change of character in the stock, with a whole new set of investors entering.
That could make sense because strong bookings and usage suggested that RBLX is finally getting the kind of traction people hoped. It also establishes the name as a potential go-to for investors seeking metaverse exposure.
Next, the two legs down in the pullback suggest that an ABC correction has been completed.
Third, RSI has trended higher.
Finally, notice how RBLX bounced near $104. That’s important psychologically for its triple-digit status. It’s also slightly above the June peak. Has the old resistance area become new support?
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$RBLXas long as $SPY trending strong and market sentiment is positive add on test for support after it breaks, exit at area above, roll up profits if wants and target to next area
RBLX: Long to Recent Highs ($140)Reasoning : RBLX had a strong gap up on fundamentals and recently pulled back driven by the market weakness (Omicron, Fed Taper, etc.). The market gapped higher this morning and we could see a Santa Rally into year end if the strength continues. RBLX is also a big player of the 'metaverse' theme which is very hot right now.
Trading Plan : Enter RBLX on a pullback to the 23.6% Fib and 21EMA support at 114, and target 140 (recent highs) as the first profit target. If price action looks good then I'll add to the position on pullbacks to the 9/21EMA. The stop out is below 108 (below the open of the day RBLX bounced off 104 support). If it falls below there I'll exit my position and either look for a re-entry if RBLX sets up again or find a better setup elsewhere.
ROBLOX- My Youngest Son's Pick (almost 6)Rule number 1: Always listen to your kids financial advise.
When kids want something they usually get it, given that the price is right.
In this case the chart is right (price at a nice support as you can see on our chart).
Market cap at 67 Billion sounds 'wrong' but I'm ok to risk it and go with the trend here.
Some funds going to ROBLOX today.. hopefully it goes well so I can cover the cost of having my son paying for this and for that over there. Quite funnily I ended up spending a few Robux (that's the currency there) for one of the meta-rides. It was quite fun to be honest.
Top tips for parents:
Our advice is the same no matter which gaming site your child is using, it is important to have a conversation with your child about the sites they use and carry on an open discussion which will help them to come to you with any concerns they may have. Involving your child in discussions and decisions about online safety and their internet usage will help them to understand why it is important that they stay safe whilst at the same time have a great time online. It will also help to educate them about how they can keep themselves safe online and know what to do if something goes wrong.
We might spend sometime with my small one playing on Roblox but we also play football, do math and learn to write.
Not a parent yet??
Then get off Tradingview and go make one! There is no bigger pleasure or meaning in life. The time is never right, just do it. This is the only advise you should take from me.
One Love,
the FXPROFESSOR
Ps. my first son is 16, he is into UFC3. Hopefully soon I will be able to get him this .. his own Avatar to play himself rather than Conor McGregor in the game. All thanks to my favorite crypto right now: metahero Marketcap at 2 Billion sounds promising ...
This is the Dump!The candle in the first 30 minutes shows that the dum has just started!
WSB will dump it from now on!
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
Roblox will fall nextRoblox failed to breakout of $130 multiple times and dropped back under $120. It tried twice to recover above $120 and failed. It’s showing weakness and holding near the 50 day line. If $110 doesn’t hold then it will fall, which I believe it will very soon. Short any rips. Go long near 92. $RBLX
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RBLX- #thestrat - Broadening FormationRBLX- Is at broadening formation as per #thestrat.
Above 21 EMA. It will bounce back quickly .
targets are highlighted in chart
$RBLX looking for 110 / 107 in coming session$RBLX heading into 110 and lower.
Trade Idea:
- $RBLX Dec 3 110 Put @ 0.75
$RBLX Bearish trade$RBLX is looking at a average Analyst price target of roughly $114.80, with a possible fall of 10% if we are looking at the analyst rating as a reference. www.tipranks.com
There is a new channel forming which price can bounce around in if we cant break the resistance level that has been touched multiple times (see blue circles on purple resistance line).
There are a number of macro events at play this week, as well as multiple competitors entering the metaverse space.
