Roblox Stock Forecast
Roblox stock downgraded to Sell Candidate
(Updated on Jul 02, 2024)
The Roblox stock price gained 0.216% on the last trading day (Tuesday, 2nd Jul 2024), rising from $37.06 to $37.14. During the last trading day the stock fluctuated 3.54% from a day low at $36.47 to a day high of $37.76. The price has risen in 5 of the last 10 days and is up by 3.45% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 449 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately $151.33 million.
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 -4.69% during the next 3 months and, with a 90% probability hold a price between $27.92 and $37.51 at the end of this 3-month period.
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RBLX Signals & Forecast
The Roblox stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $36.59 and $34.61. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -0.215%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Roblox stock
On the downside, the stock finds support just below today's level from accumulated volume at $31.45 and $30.96. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Roblox finds support just below today's level at $31.45. If this is broken, then the next support from accumulated volume will be at $30.96 and $30.42.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.29 (3.54%) between high and low. For the last week, the stock has had daily average volatility of 3.21%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RBLX) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Roblox Corporation to open at $37.12, and during the day (based on 14 day Average True Range), to move between $35.99 and $38.29, which gives a possible trading interval of +/-$1.15 (+/-3.09%) up or down from last closing price. If Roblox Corporation takes out the full calculated possible swing range there will be an estimated 6.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $39.03 (5.09%) than the support at $31.45 (15.32%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Roblox Corporation stock A Buy?
Roblox holds several negative signals and we believe that 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 Sell candidate.
Current score: -1.417 Sell Candidate Downgraded
Predicted Opening Price for Roblox Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $37.12 ( 0.0449%) | $37.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RBLX
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 38.41 | 3.43% |
| R2 | 37.92 | 2.10% |
| R1 | 37.62 | 1.28% |
| Price | 37.14 | |
| S1 | 36.63 | -1.37% |
| S2 | 36.33 | -2.19% |
| S3 | 35.83 | -3.52% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 39.80 | 7.16% |
| R2 | 39.24 | 5.65% |
| R1 | 39.03 | 5.09% |
| Price | 37.14 | |
| S1 | 31.45 | -15.32% |
| S2 | 30.96 | -16.64% |
| S3 | 30.42 | -18.09% |
FAQ
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