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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