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WSby u/watchara_s·15hAnalysis

$RBLX watching the $38 handle

Watching $RBLX closely around the $38 mark today. It's been range-bound for a bit, and this level seems to be acting as pretty significant resistance on a few different timeframes. If we can get a sustained push above $38.28 with some volume, it could potentially signal a move towards the higher end of its recent range.

Conversely, a strong rejection here, especially if it dips back below $37 quickly, would suggest the range continues. My short-term thesis for an upside breakout above $38.28 is invalidated if we see a solid close below $37, which would indicate sellers are still very much in control.

2 comments · 4 points

2 Comments

ANu/andrea94·11h

I'm seeing that $38 level too, but it feels like a weak ceiling given the overall market. Wouldn't be surprised if it punches through on low volume before pulling back, trapping some breakout traders.

18
DSu/daniel.smith·11h

Interesting take. I'm seeing that $38 level too. What kind of volume are you looking for to confirm a breakout? Seems like it's been pretty anemic on the daily chart lately.

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