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Big movements in Roblox Corporation stock price on Wednesday moving 11.15% between high and low

StockInvest.us, 3 months ago


The Roblox Corporation stock price fell by -26.51% on the last day (Wednesday, 16th Feb 2022) from $73.30 to $53.87. During the day the stock fluctuated 11.15% from a day low at $53.08 to a day high of $59.00. The price has been going up and down for this period, and there has been a -18.59% loss for the last 2 weeks. Volume has increased on the last day by 49 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 94 million shares were bought and sold for approximately $5.05 billion.

On Feb 14, 2022 "Bank of America" gave "$84.00" rating for RBLX. The price target was set to $68.32+2.3%.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.Given the current short-term trend, the stock is expected to fall -50.47% during the next 3 months and, with a 90% probability hold a price between $20.04 and $35.72 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

Roblox Corporation

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Roblox Corporation stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $66.73 and $75.61. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, February 15, 2022, and so far it has fallen -26.51%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $5.92 between high and low, or 11.15%. For the last week, the stock has had a daily average volatility of 9.80%.

Roblox Corporation holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Sell candidate.

Check full Roblox Corporation forecast and analysis here.