Roblox tries to recoup losses - Analysis - 12-05-2022

Roblox's stock (RBLX) rose in the intraday levels, after executives expressed optimistic views over the financial outcomes of a new platform that allows gamers to interact more actively online, with the company presenting better search functions, and more ads, with the company maintaining wild success amid teenagers and kids, even as users get older, with the company now suggesting methods to specify the search functions according to age, in a way that would push  them to spend more money.

Technically, the stock is trying to recoup recent losses, amid the dominance of the main downward trend in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI, marking a profit of 3.36% in the last session, or 78 cents, and settling at 23.97, with trading volumes surpassing 105.7 million shares, up from the 10-day average at 33.8 million.

Therefore we expect the stock to return lower, targeting  the support of 10.50, provided the resistance of 36.00 holds on.

Expected trend for today: Bearish.