RBLX trade ideas
RBLXAfter a monster power earnings gap (PEG) move, RBLX pulled back to its 50 MA and PEG lows were defended (i.e. 93.02 and 94.38). It is now trading around an upsloping 50 MA.
Neutral for now but I will be watching to see
- how it interacts with the declining short term EMAs
- if it breaks below 93.02 and fills the PEG gap
12/19/21 RBLXRoblox Corporation ( NYSE:RBLX )
Sector: Technology Services (Packaged Software)
Market Capitalization: 59.273B
Current Price: $102.40
Breakout price: $103.50
Buy Zone (Top/Bottom Range): $99.80-$93.50
Price Target: $123.80-$126.00
Estimated Duration to Target: 52-59d
Contract of Interest: $RBLX 2/18/22 115c
Trade price as of publish date: $9.00/contract
$RBLX to 150s on a pullback (swing)
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!
Roblox Analysis 16.12.2021Hello Traders,
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updated RBLX analysis🌹🚀rblx dipped to the 100 area like we predicted in our previous analysis when it was around 120s.
like i said many times before, unlike many other creators. I am not a perma short! and will never be that way.
We are clearly approaching strong levels of support all in almost every way possible! price targets if we bounce here: 105-115-126
goodluck traders! like and follow for more 💘
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$
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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