Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Rubicon technologies stock price closed at $0.76 with a gain of 5.04% intraday.</a> </li> 
 <li> <span>2</span> <a>The year to date return of RBT stock is -58.24% while one month return is 127.48%.</a> </li> 
</ul> 
<p>Rubicon Technologies (RBT Stock) gained strong bullish momentum mid July, rising from the low of $0.32. The stock price surged roughly 439.30% marking a high at $1.73. The bullish momentum helped price in recovering more than 75% of the losses incurred since the start of 2023.</p> 
<p>However, the bullish momentum could not sustain and faced strong rejection above $1.70 which induced strong bearish momentum in the price. The stock fell roughly 61% from the high of $1.73.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/gPW_7-sA88DFUFbNt0MdZAmwWI1xFy4DDx8iwS_zlmKsK7n1bgLIRcKfntnSqaYqSVgauBccb8QAo0VwxNBOFq_XJsnvKrQQ6sCW8Rl8U30sy1WASMTMwLDlMmq6yopJWE9oWrpK3UUxQJfKkRFjzF4" alt="Rubicon Technologies (RBT Stock): Reports Positive Q2 Results"> 
  <figcaption class="wp-element-caption">
    Source: RBT Stock Price By <a href="https://www.tradingview.com/x/MbKIzkCd/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>Rubicon technologies printed bearish candles from August 4th to 10th. The previous candle was bullish; the new support level is $0.67.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-reason-behind-upswing-in-rubicon-technologies-stock-price-strong"><strong>Reason Behind Upswing In Rubicon Technologies Stock Price</strong></h2> 
<p>Palantir, a big analytics company, recently bought 6 Million more shares of RBT stock. Palantir now has a stake of 6.2% in <a href="https://www.thecoinrepublic.com/2023/08/02/rise-of-amsc-and-rbt-stock-price-but-tpic-falls-by-50-in-a-week/" rel="noopener noreferrer nofollow">Rubicon technologies</a>. The analytics company signed a deal with the Rubicon in 2022 and which required it to purchase the shares.</p> 
<p>Palantir has acquired 5.69 Million shares of RBT stock since March 31. Now the company holds 14.63 Million shares of Rubicon. Rubicon is also one of the customers of Palantir; and Palantir has made over a dozen such investments in startups. These investments were in the spotlight due to their unusual nature; as reported by WSJ.</p> 
<p>If price can sustain above the recent support of $0.67 and gains bullish momentum, it might retest the recent high of $1.73. On the other hand, if bears can push price below $0.67, it might fall to $0.32 triggering a roughly 52% downfall.</p> 
<h3 class="wp-block-heading" id="strong-will-rbt-stock-price-retest-1-73-level-strong"><strong>Will RBT Stock Price Retest $1.73 Level?</strong>&nbsp;</h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/ZrOEv8jgDcH9StuPK0X2IxAShzrHPkIHaEuJufl-tHvfIMZG_eCiJ3S94WD8wCSHuUIg7zpSwjgg0rnAOmq2NFUkd7aKBk7DVLQMem7M4wayjcg23F9T0djP7ZrPy8ryPF78r70cZ-6S1e530i2ZKR0" alt="Rubicon Technologies (RBT Stock): Reports Positive Q2 Results"> 
  <figcaption class="wp-element-caption">
    Source: RBT Stock Price By <a href="https://www.tradingview.com/x/AUTk565P/" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/08/02/rise-of-amsc-and-rbt-stock-price-but-tpic-falls-by-50-in-a-week/" rel="noopener noreferrer nofollow">stock price</a> fell below the 20, 100 and 200-day exponential moving averages but still trades above 50-day EMA, indicating slight bullish strength. Chaikin money flow score is still above 0 mark and traded at 0.18 suggesting bullish momentum in the price.</p> 
<p>However, the relative strength index has dropped below the 50 mark and is currently trading at 48.44 indicating a rise in bearish pressure and dominance shifting to the selling side. RSI entered into the overbought zone which resulted in the reversal. The bollinger bands have expanded indicating a rise in volatility.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Recently, Rubicon reported positive Q2 financial results. The company crushed the estimates of revenue and earning per share. The market structure and price action of RBT stock turned bearish after the formation of high at $1.73. Technical parameters are currently favoring the selling side.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<p>Major support: $0.67 and $0.32</p> 
<p>Major resistance: $1.73 and $2.00</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Rubicon Technologies (RBT Stock): Reports Positive Q2 Results

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 13, 2023

Solana SAGA: The Web3 Smartphone to Buy and Sell Cryptocurrency

Amount of Token Released into Circulation in Popular Altcoin Decreases Today

Adam Back: Pioneering the Cryptocurrency and Blockchain Future

Family bets the farm on Bitcoin

2050: CBDCs, AI, and the uncharted path ahead | Opinion

The SEC Aims at Defining All Crypto Under Securities Law: Lawyer

Join our free newsletter for daily crypto updates!