Reserve

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Roblox stock price (NYSE: RBLX) fell 32% in the August month.</a> </li> 
 <li> <span>2</span> <a>RBLX stock is trading near its 52-week low.</a> </li> 
 <li> <span>3</span> <a>Roblox Corporation stock is in a downtrend.&nbsp;</a> </li> 
</ul> 
<p>Roblox stock price (NYSE: RBLX) fell 32% in the current month. The majority of damage is due to quarterly earnings.&nbsp;</p> 
<p>RBLX stock price looks oversold and has gone far away from both the 50-day and 200-day EMA. So, short-term bounce back is possible to test the EMAs.&nbsp;</p> 
<p>Roblox Corporation stock faced sharp rejection from $45.00 and the downfall has eroded the complete gains of 2023. It formed a bearish pattern and sellers continued to dominate the higher levels.&nbsp;</p> 
<p>Investors of the Roblox stock reacted negatively after the release of quarterly earnings. The company missed the EPS estimate by 5.32% and the revenue estimate by 0.55%.&nbsp;</p> 
<p>This massive surge in the selling volume is visible and RBLX share price fell 22% in a single day. This downfall has left a gap in the chart which will act as a strong supply zone in the coming months.&nbsp;</p> 
<p>Presently, RBLX stock price is near its long-term demand zone and buyers are trying their best to defend the lows. Roblox <a href="https://www.thecoinrepublic.com/2023/08/22/roblox-stock-down-31-will-rblx-stock-recover-in-sep-2023/" rel="noopener noreferrer nofollow">stock price</a> closed the previous session at $26.81 with an intraday rise of 0.98%. The market capitalization stands at $16.54 Billion.</p> 
<h2 class="wp-block-heading" id="strong-roblox-stock-nyse-rblx-at-make-or-break-level-strong"><strong>Roblox Stock (NYSE: RBLX) at Make or Break Level?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/tHhkDZ5j0x4YJKPQ4fXOp5azQR5rWgu4lseBOBafruD29tzu_cq4MYLeBee8X-ABFQ9-CyAlGOM8wRG8xbIgIK-fQD8ijYUi9IBsiufea-xtXyzcHUtQx73m8N3Xu09WLbac033zKCbeAxhIOLrSrjM" alt="Roblox Stock: Will RBLX Stock Take U-turn From 52-Week Low?"> 
  <figcaption class="wp-element-caption">
    NYSE: RBLX daily chart by<a href="https://www.tradingview.com/x/XP6bXXYO/" rel="noopener noreferrer nofollow"> TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Roblox stock (NYSE: RBLX) is in a correction phase and price action does not show any signs of recovery. Meanwhile, the broader market indices – S&amp;P 500, Dow Jones, and Nasdaq composite are also facing rejection from higher levels.&nbsp;</p> 
<p>Also, the Federal Reserve is planning for a rate hike to control inflation. All these things are disturbing the market sentiment and might negatively impact the RBLX stock.&nbsp;</p> 
<p>If the buyers succeed in defending the $25.00 then a short-term pullback toward $32.00 is possible. However, the possibility of a bullish trend reversal will increase when RBLX stock is able to break the $40 hurdle.</p> 
<h3 class="wp-block-heading" id="strong-rblx-stock-fell-for-3-consecutive-weeks-strong"><strong>RBLX Stock Fell for 3 Consecutive Weeks</strong></h3> 
<p>RBLX stock price fell for 3 consecutive weeks and formed a bearish pattern. The stock is bearish on the daily, weekly, and monthly time frames. So, if the temporary bounce back comes in RBLX stock then the reliability of sustaining the higher levels will remain low.&nbsp;</p> 
<p>The MACD curve is trading below the zero line sloping sideways, denoting <a href="https://www.thecoinrepublic.com/2023/08/22/roblox-stock-down-31-will-rblx-stock-recover-in-sep-2023/" rel="noopener noreferrer nofollow">RBLX shares</a> might consolidate for some time. Whereas, the RSI at 26 denotes oversold territory so a relief rally might trigger anytime from lower levels.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Roblox stock (NYSE: RBLX) fell 32% in the August month. Presently, RBLX stock price is near the demand zone and buyers are trying to defend the lows. Until the broader market indices recover the possibility of taking a U-turn remains low.</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $32.00 and $37.00</li> 
 <li>Support levels: $25.00 and $21.83</li> 
</ul> 
<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>

Roblox Stock: Will RBLX Stock Take U-turn From 52-Week Low?

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Thecoinrepublic.com

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