- Roblox Corp. (NYSE: RBLX) stock price has dipped around 2.35% as RBLX stock price is experiencing some selling pressure.
- RBLX share price needs to revert its downfall from the $39 support zone to revert back towards its recovery phase.
- Roblox Corp. stock price needs to attract more buyers during the day’s trading session to increase the trading volume.
Roblox Corp (NYSE: RBLX) stock price needs to revert the current momentum to recover itself. However, RBLX share price tried to recover itself with uptrend momentum yesterday, as buyers were present at Thursday’s trading session. Meanwhile, traders are trying to look for an opportunity to let RBLX stock price soar to continue its recovery streak by this week. RBLX share price has recovered around 11.54% in a week with its tremendous performance. Roblox stock has also surged by around 40% in the period of a month. This showcases the buyer’s continuous interest in RBLX shares.
RBLX stock price was at $39.63 and has lost around 2.35% of its market capitalization during the day’s trading session. Trading volume is still below average and needs to grow for RBLX share price to surge towards recovery phase.
RBLX stock price has been trying to recover itself above $40 over the daily time frame chart. However, sellers kept on smashing the stock price to pull it below $40 valuation. RBLX share price needs to attract more buyers during the day’s trading session for Roblox Corp. stocks to recover by the closing of this week’s trading session.
RBLX share price is still above 20, 50 and 100-days Daily Moving Average while being at a 200-day DMA. RBLX share price has been fluctuating between the day’s range of $37.91 to $40.33.
Will RBLX Stock Price Maintain Its Recovery?
RBLX stock price has been trying to sustain above $40 but sellers have been raiding the stock price to slip. This slippage led the RBLX share price to fall below the support level of $39.70 over the daily time frame chart. Technical indicators suggest the downtrend momentum of RBLX stocks.
Relative Strength Index showcases the downtrend momentum of RBLX shares. RSI is at 64 and is heading towards neutrality. MACD exhibits the downside momentum of RBLX share price. The MACD line is ahead of the signal line while approaching for a negative crossover. Investors in RBLX stocks need to wait if the RBLX share price sustains above $39.70.
Summary
Roblox Corp (NYSE: RBLX) stock price needs to revert the current momentum to recover itself. However, RBLX share price tried to recover itself with uptrend momentum yesterday, as buyers were present at Thursday’s trading session. RBLX share price needs to attract more buyers during the day’s trading session for Roblox Corp. stocks to recover by the closing of this week’s trading session. Technical indicators suggest the downtrend momentum of RBLX stocks. The MACD line is ahead of the signal line while approaching for a negative crossover. Investors in RBLX stocks need to wait if the RBLX share price sustains above $39.70.
Technical Levels
Support Levels: $37.00 and $32.50
Resistance Levels: $40.50 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.
Source: https://www.thecoinrepublic.com/2023/02/03/roblox-corp-nyse-rblx-stock-down-by-2-35-today-rblx-stock-price-might-revert-back-analysis/