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- 1 RBLX stock price surged 0.32% in the last trading session and is currently trading at $37.60.
- 2 Roblox Corporation’s share price (NYSE: RBLX) has a negative EPS of -1.72
Roblox Corporation (NYSE: RBLX) is a company that creates and runs a platform for 3D digital worlds. Users can explore, create and share these worlds using Roblox Client and Roblox Studio. Roblox Cloud provides the services and infrastructure to support the platform. The company’s headquarter is in San Mateo, California.
Roblox Corporation’s share price currently trades at $37.60, inclining 0.32% in the last trading session. RBLX stock holds a market cap of $22.96 Billion. It has a total of 560.5 Million shares outstanding. The PE ratio for the stock is negative. The price-to-sales ratio of the stock is -1.72.
RBLX stock derivatives data states that the current implied volatility in the market is 76.89% with a decrement of 1.35% in the last trading session. It has a total of 488.7K open interest contracts as of now. The PUT/CALL ratio is 0.71 indicating a bearish sentiment in the market as per the data.
RBLX Stock Price Prediction Using Price Action Strategy
RBLX share price analysis reveals that the stock price had been volatile in a range of nearly 40% for the past 3 months, after suffering rejection from an upper trendline, resistance followed by a decline to the previous demand zone. The price again took a rebound from the demand zone and surged higher.
Recently, the price suffered resistance near the trendline resistance and slid nearly 20% in the past 2 weeks.
Currently, the stock price is trading near the previous demand zone from where it may get the support of buyers and show some bullishness in the stock.
However, if the stock fails to get the buyers back then it may decline to its previous demand zone. Also, the results are awaiting which may affect the price to be volatile and the price may look for a trend after the disclosure of the results.
RBLX Share Price Forecast from Indicators’ point of view
As per the EMA analysis, the RBLX stock price is trading below 50 EMA which shows short-term dominance of sellers in the market. Also, the price failed to sustain above the 200 EMA indicating a lack of buyers in the market for now.
At the time of publishing, the RSI value of the RBLX share price is 41.20 and that of the SMA line is 44.16. RSI has made a breakdown of the SMA line indicating that the current trend may continue.
Conclusion
RBLX stock price prediction concludes that RBLX share price has been fluctuating between a trendline resistance and a demand zone for the last 3 months. The price recently dropped by 20% after hitting the trendline resistance again. The price is now near the demand zone, which may attract buyers and cause a rebound. However, if the demand zone fails to hold, the price may fall further to the next demand zone. The upcoming results may also affect the price volatility and direction.
Technical Levels
- Support levels: $37.32 and $33.27.
- Resistance levels: $42.80 and $47.04.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
