Roblox King Legacy Game Released — RBLX Stock Price rally

Roblox King Legacy game released on Jan 26, 2023.
Game is based on the popular One Piece anime.
Prices are predicted to rise by more than 30%.

Roblox Corporation (NYSE: RBLX) is a tech giant that operates a human can-experience platform, the Roblox Platform. Dated Jan 26, the giant launched Roblox King Legacy, an experience that one can play in the Roblox that has been renamed from King Piece to King Legacy.

The game is based on the popular anime One piece/ manga franchise. The renaming is done to avoid copyright issues. The game captures One Piece’s true essence and contains many different characters from the franchise and weapons. It also has Devil Fruits in the game that the player can interact with while playing.

As a part of the gameplay, Robloxians are challenged to become elite fighters as marines or pirates. The game requires the player to have the finest fighting gear and Devil Fruit powers to achieve difficult tasks. New players can have an early advantage in the game by redeeming the active codes.

Roblox and fashion brands are inseparable from ages. The company recently announced a collaboration with Swedish fashion brand H&M (OTC: HNNMY) to reveal an immersive gaming experience on the platform.

In the past, the gaming platform shook hands with brands like Williams-Sonoma (NYSE: WSM), a kitchen furnishing company, the International Association of Football Federation (FIFA), and Sony Entertainment Music following the Lil Nas X concert. It revealed a Gucci Garden as a limited-time event, allowing players to purchase in-game items for their avatars.

RBLX Stock Price Analysis

The RBLX stock prices moved, forming a falling parallel channel, with current price action occurring near the upper band. The volume laid flat with both buyers and sellers equally taking part. 20-EMA lies below the current price of $35.63. If prices successfully sustain above the channel, a high run reaching near $55.56 can be established.

The MACD records buyers dominating the market while the lines diverge for the future bulls. The RSI moves sideways in the 60-range to mirror buyer pull in the prices. The company holds a negative P/E ratio of 27.58, whereas the industry has the ratio of 42.53. This depicts the company is undervalued and may gain fame in future. Since being undervalued, other significant ratios are also negative, but looking at the development, may transition to positive.

Conclusion

The gaming conglomerate, Roblox Corporation, shows signs of future growth. The developments and alliances will benefit the tech giant in the long term. The new release will certainly impact the RBLX stock prices sooner or later and make them rally. The holder must look for the breakout to profit from the surge.

Technical levels

Support levels: $25.85 and $21.87

Resistance levels: $46.24 and $55.56

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.