Roblox Stock Breaks Up From Bull Flag Pattern: How To Play The Possible Continuation Move
Portfolio Pulse from Melanie Schaffer
Roblox Corporation (NYSE:RBLX) stock rallied 6.57% on Wednesday, breaking up from a bull flag pattern on the daily chart. Analysts raised their price targets on Roblox following the company's better-than-expected revenue report on May 11. The measured move of the flag is 23%, suggesting Roblox could trade up toward $46.
May 18, 2023 | 2:06 pm
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Roblox stock broke up from a bull flag pattern, with a potential 23% move up to $46. Analysts raised price targets after a better-than-expected revenue report.
The stock rallied 6.57% on Wednesday, breaking up from a bull flag pattern, which is a bullish signal. Analysts raised their price targets on Roblox following the company's better-than-expected revenue report on May 11. The measured move of the flag is 23%, suggesting Roblox could trade up toward $46. This positive news and technical analysis indicate a potential short-term upward movement for the stock.
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