Nov. 14 at 3:02 AM
$RBLX is currently trading at
$101.27, significantly below its 30-day moving average (MA30) of
$121.07 and 50-day moving average (MA50) of
$126.31, indicating a bearish trend. The RSI at 24.11 suggests that the stock is oversold, which may lead to a potential reversal or bounce in the short term. The recent 60-day high of
$142.0 and low of
$99.4 establishes a trading range, with the current price near the lower end, indicating potential support.
Trade Plan:
- Directional Bias: Short-term bullish bias due to oversold conditions (RSI) despite the overall bearish trend indicated by MAs.
- Suggested Entry:
$101.50, anticipating a bounce from the oversold condition.
- Stop Loss:
$98.50, below the recent low to manage risk.
- Target 1:
$110.00, aligning with the previous support level.
- Target 2:
$115.00, approaching the MA30.
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