A First Look at $RBLX

I have been watching $RBLX since its inception, and so far at least, everything looks basically corrective. If we wanted to test whether the whole corrective period is over, now is our chance, as the little move off the recent lows is a little 5-wave move (green arrow).

What we would like to see from here is a pullback to roughly the orange box below, followed by another rally to the orange box above. If, during the course of all of that, we form another 5-wave move of a larger degree, we can gain confidence that it is entering its first, genuinely bullish sequence.

RBLX


[UPDATE]: Since it did get a very tiny pullback, then rallied to the upper orange box, i will file this under “Successful Calls.” I will need to monitor the price action from here prior to making a new call.

RBLX

2 thoughts on “A First Look at $RBLX”

  1. I am presently watching it. I will need some more time. I don’t have anything I see on it yet. My general expectation for the moment is that the markets are going to move lower, and I would expect this to follow, but I don’t have a particular setup on this particular stock yet.

Leave a Reply

Your email address will not be published. Required fields are marked *