Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Roblox stock price was rejected multiple times from the key moving averages and is below it.</a> </li> 
 <li> <span>2</span> <a>RBLX stock price decreased by 9.26% over the past seven days.</a> </li> 
</ul> 
<p>Roblox stock price is facing strong bearish pressure on the daily technical charts, as it is below the 100 and 200-day EMAs. The stock failed to break above its key resistance levels near the EMAs in the past few months, despite several attempts by the buyers.&nbsp;</p> 
<p>The stock is currently trading near $25.39, with a marginal gain of 0.32% intraday. The stock has a potential upside target of $30, but it needs to overcome the bearish momentum and surge above the 20-day EMA. The stock has a support level of $24, which could prevent further bearishness.&nbsp;</p> 
<p>Roblox price prediction suggests that the stock is in the firm grip of the bears and needs to show signs of reversal before confirming a bullish trend.</p> 
<p>Technical indicators favor the bears projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillators are moving near the overbought zone whereas the major EMA lines are acting as barrier points for RBLX price.</p> 
<p>The company’s performance has been dismal throughout the year. It showed negative returns of 12.18% in the year-to-date period, 41.90% in the last six months, 4.19 % last month, and 9.26% last week. This is a persistent bearish trend.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-roblox-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of Roblox&nbsp; Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh5.googleusercontent.com/_SGiUsF0wsBMgA0zHzkBLWe2FQa9Hq1KG-9KVCRd1T0mCBSeDQtxcs5KLNt0gERWI-i0ebOD_rf-9m6XZgxhrVVSsf6cPkPrlxUv5lHZ_MXvjTUuROBInErmuYzBfZFFoAGreb0syGmQzVCyo-lqsxM" alt="Roblox Stock: Is RBLX Stock Ready to Bounce Back Above $23?"> 
  <figcaption class="wp-element-caption">
    Source: Roblox .1D.NYSE by <a href="https://www.tradingview.com/x/qkFXWsiy/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Roblox stock (NYSE: RBLX) is under the 50 and 200-day DMAs (daily moving averages), which are not upholding the price trend.&nbsp;</p> 
<p>The current value of RSI is 27 points. The 14 SMA is above the median line at 36 points which indicates that the Roblox stock is bearish.</p> 
<p>The MACD line at -1.49 and the signal line at -1.49 are below the zero line. A bearish crossover is observed in the MACD which signals more bearishness for the RBLX <a href="https://www.thecoinrepublic.com/2023/09/06/roblox-stock-defends-26-will-rblx-stock-continue-to-recover/" rel="noopener noreferrer nofollow">stock </a>price.</p> 
<h3 class="wp-block-heading" id="strong-weekly-time-horizon-analysis-strong"><strong>Weekly-Time Horizon Analysis</strong></h3> 
<p>The weekly chart of Roblox stock reveals that the sellers have been dominant. The stock is in a downtrend, as it has broken below the key EMAs. The technical indicators also confirm the bearish sentiment, as the RSI is near the oversold zone at 33 and the MACD has formed red bars and a bearish crossover. These signals indicate that the stock may face more downside pressure in the coming weeks.</p> 
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3> 
<p>Roblox stock’s (NYSE: RBLX) technical oscillators support the bearish trend. The MACD, RSI, and EMAs are emphasizing negative signs and imply that the downtrend may continue in the RBLX stock price. Roblox&nbsp; price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.</p> 
<h3 class="wp-block-heading" id="strong-technical-levels-strong"><strong>Technical Levels</strong></h3> 
<ul> 
 <li><strong>Support Levels:</strong> $24.05 and $21.70.</li> 
 <li><strong>Resistance Levels: </strong>$34.18 and $31.21.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.</p>

Roblox Stock: Is RBLX Stock Ready to Bounce Back Above $23?

Table of Contents

Thecoinrepublic.com

Other articles published on Sep 25, 2023

Former Face of BitBoy Crypto Raises $150K in Crypto from Fans to Sue Parent Company

Introducing Bybit's Perp Protect: Revolutionizing Options Trading with Industry-First Downside Pr...

Electro-Optical System (EOS) Network: 5 Best DApps to Check Out

Crypto's Greatest Utility Lies in Developing Nations Says Visionary Vitalik Buterin

BTC Is the Ultimate ESG Asset, Believes Sustainability Investor

The Looming $440 Billion Crypto Crash: How Bitcoin Could Plummet to $15K

Join our free newsletter for daily crypto updates!