- RBLX Stock price has been constant inside a horizontal range-bound area from March 2022 and is currently falling towards the lower price range.
- Roblox Corporation (RBLX) is an American Video game developer, founded in 2004 and is currently based in California, USA.
- RBLX Stock has been continuously struggling to break out from the distribution phase at $50.00 level.
RBLX Stock price has been continuously getting rejected from the distribution phase at the upper price range of the consolidation phase over the daily price chart. RBLX Stock needs to reverse the current downtrend momentum and needs to surge towards the distribution phase by accumulating a significant amount of buyers during the intraday trading session. However, RBLX investors need not to worry about the stock’s price action as it has been a great investment ever since it got listed for trade. Investors in Roblox Corp need to wait for any strong directional change over the daily price chart.
RBLX Stock price is down by 3.40% at $29.83 and market sentiments are bearish by looking upon the price chart of RBLX stock. The blood red candlestick chart shows that sellers are approaching the stock’s breakdown.
RBLX Stock price has dropped below 20, 50, 100 and 200-days Daily Moving Average and is falling with strong downtrend momentum over the daily price chart. RBLX stock needs to look for a support to surge over the daily chart. However, buyers are trying for the stock’s recovery but volume change can be seen below average and needs to grow for RBLX stock to grow during the intraday trading session.
Is RBLX stock Price Preparing to Surge?
Roblox corporation stock price needs to maintain the uptrend momentum to register the stock’s recovery phase over the daily price chart. Technical indicators suggest the uptrend momentum of RBLX stock.
Relative Strength Index showcases the uptrend momentum of RBLX. RSI is at 35 and is waiting to move towards neutrality. MACD exhibits that RBLX is trying to sustain at the current level. The MACD line is moving towards the signal line for a positive crossover.
Conclusion
RBLX Stock has been continuously getting rejected from the distribution phase at the upper price range of the consolidation phase over the daily price chart. RBLX Stock needs to reverse the current downtrend momentum and needs to surge towards the distribution phase by accumulating a significant amount of buyers during the intraday trading session. RBLX Stock has dropped below 20, 50, 100 and 200-days Daily Moving Average and is falling with strong downtrend momentum over the daily price chart. The MACD line is moving towards the signal line for a positive crossover.
Technical Levels
Support Levels: $25.00 and $20.00
Resistance Levels: $32.00 and $35.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/11/30/rblx-stock-price-analysis-know-whereabouts-of-roblox-corporation-rblx-stock-price/