9
RBLX: Eyeing the 33.88-34 zone after the drop
That $RBLX news definitely hit hard today. Seeing it down around 26% is pretty brutal. I'm not looking to catch a falling knife, but I'm certainly watching the previous day's low around 33.88. It did pierce that briefly today, hitting 33.85 before a slight bounce.
For me, if it manages to stabilize and hold above that 33.88-34 level in the coming days, it might suggest some accumulation, or at least a temporary floor. If it breaks decisively below that and starts making new lows there, then my whole thought process is invalidated, and it's probably heading lower to find the next major support. Just an observation, no positions on my end for now.
1 comments · 9 points
It's a bold move considering the news. That 33.88 zone seems more like a temporary stop than a floor. I'd want to see significant volume confirm any hold before even thinking about accumulation.