Candle

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>Roblox stock price (NYSE: RBLX) recovered 23% from the 52-week low.</a></li>
 <li><span>2</span> <a>RBLX stock price is attempting to fill the gap zone resistance.</a></li>
 <li><span>3</span> <a>Roblox Corporation is expected to report quarterly earnings on November 8, 2023.</a></li>
</ul>
<p>Roblox stock price (NYSE: RBLX) reversed upward and recovered 23% from the 52-week low. The recent pullback rally shows initial signs of a bullish trend reversal but confirmation is still awaited.&nbsp;</p>
<p>RBLX stock price succeeded in climbing above the 50-day EMA hurdle but buyers are facing difficulty in giving the follow-up momentum. It shows that sellers are active near $32.00 and it will be difficult for bulls to reverse the trend.&nbsp;</p>
<p>Roblox Corporation stock price reacted negatively to the previous quarter’s earnings and left a huge gap in its chart.&nbsp;</p>
<p>At present, the gap range is between $33.15 to $36.63, it acts as a strong resistance zone. Until RBLX stock fills the gap, the buyers may lack confidence and might feel reluctant to build fresh shorts.&nbsp;</p>
<p>In the last three months, Roblox share price has not performed well and traded with a bearish bias. This seems to be the second attempt of bulls to break out of the $36.00 hurdle.&nbsp;</p>
<p>The quarter earnings are scheduled for next week which might show volatile price fluctuation for a short period. Therefore, investors need to be careful and wait for the confirmation of the upward reversal to build longs.&nbsp;</p>
<p>Roblox stock price closed the previous session at $30.99 with an intraday rise of 1.44%.</p>
<h2 class="wp-block-heading" id="strong-will-roblox-stock-price-breakout-of-gap-zone-hurdle-strong"><strong>Will Roblox Stock Price Breakout of Gap Zone Hurdle?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/RzWLvTFlr8eGzsYrzhHxARR4cZGtUyqxWwRZkKFXtNoNCcm4n7oi0UTyQyMYp760Dho1kdzvnX7_rRWvdNQ5GlbKSKOc5OI9i7a_1X-5EZgaO8wt7w8REgX-dUeb_U1HiQ_VhO8y9vL6Z5LUOitsnUE" alt="Roblox Stock Price: Will RBLX Stock Price Fill the Gap Zone?">
  <figcaption class="wp-element-caption"><a href="https://www.tradingview.com/x/ybrzZpbO/" rel="noopener noreferrer nofollow">NYSE: RBLX</a> daily chart by TradingView
  </figcaption>
 </figure>
</div>
<p>Roblox stock price (NYSE: RBLX) is in recovery mode and buyers are trying to hold the price above $30.00. The next direction in <a href="https://www.thecoinrepublic.com/2023/10/07/roblox-stock-formed-double-bottom-rblx-stock-turning-bullish/" rel="noopener noreferrer nofollow">RBLX shares</a> will be visible after earnings. The market analyst predicted an EPS of -0.493 and revenue of $829.395 Million.&nbsp;</p>
<p>If Roblox Corporation meets the estimates, then a wide gap in its stock may be seen. However, if the company fails to meet the estimates, then the stock price might be rejected from $32.00 and reverse down.&nbsp;</p>
<p>The technical analysis suggests that RBLX <a href="https://www.thecoinrepublic.com/2023/10/07/roblox-stock-formed-double-bottom-rblx-stock-turning-bullish/" rel="noopener noreferrer nofollow">stock price</a> may be losing positive momentum and may fail to fill the previous gap.</p>
<h3 class="wp-block-heading" id="strong-rblx-stock-price-formed-inverted-hammer-candle-strong"><strong>RBLX Stock Price Formed Inverted Hammer Candle</strong></h3> 
<div class="tradingview-widget-container">
 <div id="tradingview_d54ec"></div>
 <div class="tradingview-widget-copyright"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div>
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script>
 <script type="text/javascript">
  new TradingView.widget(
  {
  "width": 950,
  "height": 500,
  "symbol": "NYSE:RBLX",
  "interval": "D",
  "timezone": "Etc/UTC",
  "theme": "light",
  "style": "1",
  "locale": "en",
  "enable_publishing": true,
  "allow_symbol_change": true,
  "studies": [
    "STD;Relative_Volatility_Index",
    "STD;Supertrend"
  ],
  "container_id": "tradingview_d54ec"
}
  );
  </script>
</div> 
<p>RBLX stock price formed a bearish inverted hammer candle in the previous week. It shows that short-term bulls are looking to book the profits before earnings.&nbsp;</p>
<p>Meanwhile, the broader market indices and video game company stocks are inside a bears’ grip. So, it negatively impacts the investors’ sentiment. Therefore, the possibility of a stock reversing down from the gap zone hurdle remains high as compared to the breakout.</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>Roblox stock price (NYSE: RBLX) recovered well from its low and is trading near the supply zone.&nbsp;</p>
<p>The quarterly earnings of the Roblox Corporation are scheduled next week which might impact the price and decide the next direction. The analysis suggests that the RBLX stock price will face rejection and drop below the 50-day EMA soon.&nbsp;</p>
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5>
<ul>
 <li>Resistance Levels: $33.20 and $36.63</li>
 <li>Support Levels: $27.50 and $24.94</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 Price: Will RBLX Stock Price Fill the Gap Zone?

Table of Contents

Thecoinrepublic.com

Other articles published on Oct 30, 2023

Exclusive Tembazar NFT Collection Available at Sidus Market!

Uniswap Foundation moves more than $40M worth of UNI tokens to crypto exchanges

COF Stock Price: Breakout is Near, What Are Investors Missing?

FLR token rising as Flare launches public staking

Gemini Exchange Files Lawsuit Over $1.6 Billion Collateral Dispute

XRP Healthcare Expands to the Middle East: Ripple’s Plans for Institutional Adoption

Join our free newsletter for daily crypto updates!