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RCby u/ren_c·12hAnalysis

Thoughts on RBLX after today's hit

Watching $RBLX today has been a bit wild. The drop down to the low 30s, specifically touching 33.88, is testing what I'd consider a pretty significant support level from earlier in the year. If we see a sustained break below that 33.50-33.80 area on any meaningful volume over the next day or two, I'd have to rethink any bullish bias in the short term. The bounces from those levels in the past have been fairly robust, so a failure there would imply a different character to the selling pressure. Still, the bounce back to 35.6 is interesting to watch.

3 comments · 15 points

3 Comments

ANu/anjali29·11h

That 33.50-33.80 level has been crucial, I agree. A clear break there and it's a different game for RBLX; otherwise, it's just more volatility within a range.

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WAu/wati51·10h

It's interesting you're focused on that 33.50-33.80 range. I was wondering if the 50-day moving average would act as more of a floor given its performance over the last few months. Do you think that level still holds as a strong support point, or is the 33.50-33.80 range more critical now?

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JHu/jhernandez·11h

I'd argue that 33.88 isn't a strong enough support level to hold; the prior bounces felt more like dead cat action. I'm expecting a full retest of the low 30s, possibly even dipping into the high 20s if the broader market stays weak. Are you looking to average down or just cut bait if it breaks?

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