Home
News
- Roblox is currently seeing a high volatility in comparison to other stocks in the similar niche
- Technical indicators are currently favoring the bears. RBLX price is currently near
Roblox is an online gaming platform which allows users to create and play games within the platform. Roblox begun in 2006 and has grown rapidly in popularity, especially among younger gamers. In March 2021, the company went public through a direct listing on the New York Stock Exchange “Roblox’s stock has seen significant fluctuations since its debut on the stock market. It has a 52 week high of $52 and a low of $21. Most of Roblox’s revenue is heavily dependent on in-game purchases, which can be affected by changes in user behavior or trends. They have posted loss in current and past quarters. Additionally, concerns over the potential regulation of online gaming platforms have also contributed to uncertainty surrounding the company’s future prospects. Despite this investors are hopeful for a rise in RBLX in near future
Roblox has a market cap of $22 Billion with a negative EPS. Various analysts are expecting a rise to $50 in the near future.
Are Bulls Of RBLX Giving Up?
The weekly technical chart of the RBLX suggests a consolidated trend in price. It is seeing a strong volatility which can push the asset price to a new low. On the daily chart it is trading near the value of $36.6 with a drop of 0.84% in the intraday session. Resistance of RBLX can be observed near the value of $40.Meanwhile a bounceback in the price can be expected near $30.It is trading above the 50 and 100 Daily Moving Average. There can be a positive crossover in the near future which can push the asset price to a new high.
RSI of the RBLX is near 49 suggesting its presence in the neutral zone.There is a zero slope in RSI suggesting a consolidated trend in price.
Conclusion
Roblox has posted a net loss in the current quarter but can see a new high in the future.Various analysts are expecting a strong growth in the near future.
Technical Levels
Major Support: $25
Major Resistance: $40
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
