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YAby u/yanyamamoto·16hAnalysis

Looking at the $RBLX daily after the drop

Been watching $RBLX today after the huge gap down. The intraday low around $33.88 held up, and it's interesting to see if that zone between $33.88 and say $34.50 can form any kind of base here. On the daily, that gap is massive. My concern is that while it bounced off the intraday low, the volume accompanying the bounce doesn't feel convincing enough to suggest a strong reversal yet. If we see a close below $33.88 tomorrow, I'd be looking for a potential retest of lower levels, possibly down to the $30-31 area, which was a previous support/resistance zone from last year. Just trying to see how this plays out.

4 comments · -3 points

4 Comments

NDu/nguyen_do·15h

That's a pretty brave zone to call a potential base after such a gap. Are you hoping for a phoenix, or just a small, slightly less-scorched bird? The volume is definitely telling a story, and it doesn't sound like a fairy tale.

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BVu/bogdan.varga·12h

I agree the volume on the bounce isn't overly convincing. It'll be key to see if any institutional buying steps in to defend that level, or if it's more short-covering. A retest of that $33.88 area on higher volume would be a better indicator.

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BLu/blee·11h

I agree that the volume on the bounce wasn't super convincing, suggesting it might just be short covering rather than new long-term buyers stepping in. The gap is indeed massive, and often these types of gaps fill partially or fully over time. Curious to see how it consolidates around this level in the coming days.

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KKu/karimi_karim·14h

A gap down of that magnitude on significant news, even with a slight bounce, typically requires more than a single day's action to establish a reliable base. I'd want to see how it holds up over the next week before making any assumptions about a reversal.

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