RBLX back to retest 100! RBLX Daily TF
Roblox on discount, as price continues to drop due to a decline in active users. After a massive rally to ATH its only right we see a pullback before the rocket takes off again. Has a bit more room for a golden retracement to .618 level (76.96). Wouldn't jump the gun on calls just yet unless downtrend is broken which signals reversal or we get a dip to 76 level.
Targets: 90, 103, 117
Trade idea:
76-80 scale in month out calls atm/otm, full entry on the breakout of downtrend
Shares - safer option as well
RBLX
RBLX dipped back into the channelI am into RBLX because my kid keeps asking me to buy him coins in the game. I figured I could help him earn some coins (lol).
When institutional investors started buzzing about it more after it's first earnings, I had a hunch it would soar. Well it happened and now it's cool down time as indicated by lower volume. I think that price will retrace to about $96 before dropping more. I am a novice charting queen aiming to be right. This 4hr view shows the highlights, but drilling down to the 1hr chart may help you see a more familiar to determine your entry and exit strategies. Once more price action takes place, I hope to see when RBLX will rise again (summer 2021).
$RBLX Still LONG Despite yesterdays sell off with news to near the $80 level, we see buyers entering this morning raising it nearly 6 points giving me confidence for a longer term reversal. Still expect to see 100-110 price level in the next 4-6 weeks. targets as well as support and resistance are trend based fibonacci extension levels as shown on the chart.
$RBLX - Classic case of "The trend is your friend until the end"$RBLX broke its massive uptrend and made a solid move south. Puts are finally paying off as this stock is due for a correction.
Let's break down what happened here and how you can profit from similar price action.
Step 1: Find a trend and draw a trendline. The bigger the time frame, the stronger of a trend it is.
Step 2: Wait for a break. Do not enter simply because the stock is overbought, enter on confirmation and confirmation ONLY!
Step 3: Wait for confirmation, see chart for details
Step 4: Define your SL and price targets. These can be based on a variety of factors, but this is mine for $RBLX
Since this is a major trend break I have a tight SL. As any move further north would invalidate this trend. This stock also sits at a major resistance giving me more confidence in this trade.
Join the link in my bio for a chill trading room and get in these trades before they happen!
Cheers!
Bonus tip: It can also help to follow the overall market, $SPY , $QQQ and the broader market were performing weak today which also helped my bias
ROBLOX 4H Doji + Triangle A doji appeared in the last 4 hours of trading of Roblox. Typically a doji reflects indecision within the market where buyers and sellers cancel each other out.
When it happens at the top of a move it can signal a reversal. However, 4 hours isn't much to go on (I'd feel better on a daily chart) and these things appear a lot and often lead to nothing. So check for confirmation in the next candles.
There is also a triangle forming and today was a new high completing the top line.
Option 1 is a move higher once the triangle is broken, it could be after a slight move down (due to that doji) which presents a buying opportunity if the triangle holds.
Not a super helpful chart, I probably should have just written "watch out for that doji" and left it there :)
Market Manipulation, a Conspiracy theory or a Provable fact?Those who run this show using the same technique over and over to benefit from beginner traders' sense of FOMO..!
They are ready before the news comes out already bought their options, and run the show.
look at other examples:
1- NYSE:SPCE
2- NYSE:RBLX
The price pattern and the Price*Volume patterns are very identical..!
Option/Stock Play: RBLXTriple digits incoming imo!! Since ipo’ing the stock has consolidated into the range you see here marked between the purple support lines and white resistance lines. With a breakout of 78 we will test ATH and with volume accumulation behind it should push to at least 100. Candles are above the MA’s holding steady and should start to pull up with market continuation to test it’s ATH’s or near. Good luck if you play!!
$RBLX Roblox Head and Shoulders Inverted Pattern$RBLX has formed an inverted head and shoulders pattern which is a short term bullish reversal sign. The stock has been fluctuating between $78 and $64 since IPO in March. The stock formed an inverted head and shoulder pattern and confirmed upward breakout yesterday crossing the neckline price of $75 per share. Left neck is lower than the right neck which is one of the main characteristics of head and shoulder pattern.The stock has tested the resistance line on 11 May but couldn't break above it. It made a partial decline forming a head and we know that partial declines or partial rises are usually a sign of the change in the trend. Volume has shaped U pattern which also pretty common in head and shoulder patterns.
Even though there are strong signals and confirmations of a bullish trend I would suggest to wait for the final confirmation of resistance line becoming support line. If the stock breaks the resistance line and trades above the line for few days open a long position.
1st price target is $85 for the next 45-60 days.
2nd price target is $100 till the end of the year
This is a new stock and statistics might be misleading. Overall the stock has a great potential as its a game changer in the gaming industry.
Good luck and trade smart! (not a financial advice)
Please like and share if you like my idea.
$ ROKU $RBLX $UAL $C I OptionsSwing WatchlistROKU 15M I ROKU has been squeezing tight after reporting earnings and it is trading within a wedge on the 15 minute time frame.
RBLX 15M I Performed well after its recent earnings and investors are seeing as more than just a game. Looking to trade a breakout from the current downtrend.
UAL 4H I As CDC softens its rules the travel industry gained some territory today. UAL is looking to break from a bull flag.
C 15M I Watching C break above ATH levels.
RBLX back to 75+?RBLX 1HR Timeframe -
RBLX had a nice breakout of the downtrend 2 weeks ago and a rally to new highs, price has seen a nice correction, retesting that downtrend and bouncing perfectly. Some bullish option flow coming in and with this strong close today at high 71 level, we could see a possible impulse move to 75+ by end of week. Currently has some strong downtrend resistance (green line). A break over 72-73 level and hold would confirm a reversal to the upside. If we see see a slight sell off during pm I will look to buy the dip for some weekly call options. Under 69.16-68.60 would indicate more downside. Keep in mind there is a going to be lots of volatility (short term) with this name.
Currently holding 71C, 75C weeklies, 70-77 weekly calls (lottos, high R/R), next week or May contracts would be safer don't recommend leaps on this just yet.