$Roblox (RBLX.US)$ roblox is still being supported constantl...
$Roblox (RBLX.US)$ roblox is still being supported constantly at 5EMA and holding on to a very strong bull trend after a strong rally.
As of now, it looks like bband is slowly contracting and that will slow down volatility first before a next move. This is healthy as well to help the 20sma catch up towards the price action to act as a stronger support at a higher price range.
The key support will be at the 20sma and critical support is at 113. If it breaks 113, it will likely go down to touch the 20sma to support the bull trend. If the 20sma doesn't hold we will lose this bull trend.
Resistance is at the 138 and 141.6 which was previous ATH. If it breaks 138, the ATH will very likely be retested and broken. However should it fail to break 141.6 after 2nd retest do stay cautious of a double top. Of course I still don't think a double top will form yet on roblox due to the strong bull trend and also recent metaverse hype. But never bad to stay cautious.
As always, trade safe & invest wise!
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102760870 : Hi, I noticed that Roblox P/E ratio is minus 179 that mean they haven’t make any profit yet, do you think we need to be more cautious or optimistic on this stock ?
Investing 101 OP : By right long term investment wise for me personally I only invest in companies with positive cash flow. So for roblox is not a company I will invest long term on. But its up to everyone risk appetite
Investing 101 OP : Amd yes they not making profits thus the negative PE
102760870 : Thanks
alexjst 102760870 : New to the Roblox business and how Roblox makes money? Roblox is one of the those few companies that have a large user base, a fast growing rate and making a lot of money. Google “Roblox booking” instead and you will see the real Roblox revenue, that’s what Wall Street has been excited about Roblox. You can pay $1M to Roblox and that does not count as any Roblox earning although it’s indeed in Roblox’s bank account.