Roblox Corp. (NYSE: RBLX) Stock Dip 3% on Monday Market Opening, RBLX Stock Price on Sellers Radar

Roblox Corp. stock (NYSE: RBLX) has dropped by 3% by the opening of Monday’s trading session.
RBLX stock price has recovered above 20, 50 and 100-days Daily Moving Average while trying to reach the 200-days DMA.
American video game creator Roblox Corporation is situated in San Mateo, California.

Through 2021 and into the middle of 2022, the RBLX stock price declined before consolidating and attempting to fly to new heights. However, sellers persisted in shorting the RBLX stock market, which drove the share price to its current level. As the RBLX share price moved, approaching its recovery level, investors made many attempts to push their limits. However, they failed repeatedly because sellers kept changing their positions in relation to the RBLX stock price. In order to maintain this rate of recovery from the pre-market session to the trading session on Monday, Roblox stock price must attract buyers. As investors keep increasing the bar, RBLX shares have temporarily fallen around 3% by the opening of Monday’s trading session.

RBLX stock price was at $36.86 and has lost around 2.36% by the opening of Monday’s trading session. However, if buyers try to keep up the pace throughout Monday’s trading session then RBLX shares investors might witness a significant recovery of RBLX share price.

RBLX stock price has been slipping from the past year over the daily time frame chart. Meanwhile, RBLX share price has showcased some signs of recovery by gaining around 12% in a week, with a 44% increase in share price in the last month. However, quarterly growth of RBLX share price is negative as RBLX shares dropped around 18.24% in the last 3-months.

RBLX share price has recovered around 30% year to date showcasing the buyers accumulation rate. Volume change can be seen on average suggesting that buyers are pushing their limit during the pre market session.

Some Levels to Mark for RBLX Stock Price

RBLX share price got up from the lowest level or from the demand zone at $25 to recover itself over the daily time frame chart. Afterwards, RBLX shares tried to surpass the $50 supply zone but got distributed due to some sustainability issues of buyers. In the meantime, RBLX share price tried to maintain itself on $47 primary resistance level but again slipped till $25 due to short selling. RBLX stock price was at $36.65 after falling from the primary resistance level of $38.50 and might get support before the $32 price range.

Will Roblox Share Price Retrace its Path?

Technical indicators suggest the downtrend momentum of RBLX stock price. Relative Strength Index showcases the downside trend of RBLX shares. RSI is at 60 and is heading towards neutrality. MACD exhibits the slipping position of RBLX. The MACD line is above the signal line while it may move towards the signal line if sellers push their limit during the day’s trading session. Investors in RBLX stocks need to wait for any directional change to register its breakout.

Summary

Through 2021 and into the middle of 2022, the RBLX share price declined before consolidating and attempting to fly to new heights. However, sellers persisted in shorting the RBLX stock market, which drove the share price to its current level. RBLX share price has recovered around 30% year to date showcasing the buyers accumulation rate. In the meantime, RBLX share price tried to maintain itself on $47 primary resistance level but again slipped till $25 due to short selling. Technical indicators suggest the downtrend momentum of RBLX share price.

Technical Levels

Support Levels: $35.00 and $32.00

Resistance Levels: $38.00 and $47.00

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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing