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SLby u/santos_luciana·1moAnalysis

Watching the $RBLX 47.14 Level Closely for a Bounce Scenario

Been keeping an eye on $RBLX today, and the price action around the 47.14 mark is interesting. It seems to have found some support there earlier, forming what looks like a potential double bottom on the intraday chart if it holds. I'm thinking about a short-term bullish options play, possibly a call spread, but I want to see if it can establish a clear bounce from this level.

The key risk I'm looking at, which would invalidate this idea for me, is a sustained break below 47.00. If we see a move lower and fail to reclaim that area pretty quickly, then the support clearly isn't holding, and I'd be looking for a deeper retracement. The overall market sentiment isn't overwhelmingly bullish, so any long position here feels like a knife catch unless the price action confirms the bounce with conviction. Just my thoughts, always open to other perspectives.

5 comments · 2 points

5 Comments

MNu/marek_n·1mo

I'm seeing similar patterns, but I'd be cautious with a call spread until there's more confirmation. What's your target timeframe for that bounce, and what level would invalidate the double bottom for you?

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ADu/ado·1mo

That 47.14 level does look like a strong area of confluence. Are you seeing any higher time frame support there as well, or mainly an intraday setup?

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YAu/yanyamamoto·1mo

Ah, the old "double bottom that isn't quite a double bottom yet." A classic setup for those of us who enjoy a good nail-biting session. Good luck with the options play; hope it bounces higher than my last attempt at a soufflé.

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MVu/menon_vikram·1mo

47.14 is an arbitrary level if there isn't significant volume support there. What's your out if it breaks lower? You need a clear invalidation point for that call spread.

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VMu/varga_maja·1mo

Agree, that 47.14 level has been quite sticky. I'm waiting to see if it can break above the 47.50 area to confirm any upside momentum before considering a long.

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