- Roblox Corporation is an American video game developer company.
- It was founded in 2004 by Erik Cassel and David Baszucki. The stock of the company is listed on the New York Stock Exchange (NYSE).
- The stock overall is falling from 2021 and is similar to the “L” shape. Let’s analyze RBLX share and get some information about this stock.
The net income of Roblox in 2022 was $924 Million. Its total revenue in 2022 was $2.23 Billion. The total worth of assets in 2022 was $5.38 Billion, which increased as compared to the previous year.
Its total operating income in 2022 was $924 Million. Let’s analyze the stock through technical analysis.
Technical Analysis of RBLX
![Will RBLX Fall and Make an All-time Low in the Future?](https://themarketperiodical.com/wp-content/uploads/2023/09/image-277-1024x455.png)
In the daily time frame, the stock is ranging between a support level and a resistance level.
In today’s trading session, it was down by (2.71%). It already has multiple support points. The chance of a breakout or stock going up from that level is not possible.
According to forecasts, the stock price might rise by 5.14% and the price may reach $27.60 by 26th September 2023.
The F&I Index (Fear & Greed Index) is showing 39 (Fear). The current market sentiments are bearish.
The stock recorded 15/30 days green in the last 30 days which is around 50% with the price volatility of 6.19% over the last 30 days.
![Will RBLX Fall and Make an All-time Low in the Future?](https://themarketperiodical.com/wp-content/uploads/2023/09/image-278-1024x455.png)
The pattern in the rectangle is known as “Three Black Crows”. It indicates that the price will start to fall in the future.
The stock is in the control of bears more than the bulls. The current market sentiments might be bearish in the upcoming dates after the pattern formation.
The stock opened a gap down after it reported its Q2 results earnings which were not good. So, the price went down in one day from $37.71 to $29.40.
Is the RBLX Stock Reliable?
According to Coincodex, the RBLX stock can be beneficial for investment as its value might increase by 642.09% in the next year.
The price predicted for tomorrow will go up to $26.69, which means it might go up by 1.66% on the next trading day.
Live chart of RBLX
Conclusion
Through the evaluation of the stock with the help of technical analysis, we can say that overall the stock is in a downtrend position.
It was in a downward direction in the monthly time frame, which can be use by short sellers for short selling. In the weekly time frame, it is moving down the slope.
In the daily time frame, it is in a sideways position. Essentially, the stock is down and not good for any time frame investment.
So the stock does not have the potential to generate a good amount of returns on the investment made by the general public in the yearly and monthly time frame.
The prediction is made that the price will go up in the future. So, investors should keep an eye on it for investment purposes.
Disclaimer
The analysis is done for providing information through technical analysis and no investment suggestions are given in the article to be made by investors.
The coins are unpredictable so investors should have proper knowledge.
Cryptocurrencies are highly volatile and risky. Investment should be made with proper technical analysis.