Technical Analysis:
RBLX's recent price action shows a strong upward trend, with the stock currently trading at $62.40 . The stock has experienced significant momentum, reaching new 52-week highs of $75.74.
News Sentiment & Key Events:
- SEC investigation news caused temporary weakness but stock has shown resilience
- Strong institutional support with Cathie Wood's ARK Investment adding 369,000 shares worth $24.7 million
- Multiple analyst upgrades including BTIG raising target to $73 and Benchmark increasing to $71
Price Projection for Next Week:
Based on technical indicators and recent momentum:
Target Scenarios:
- Support levels: $60.50 - $61.20
- Resistance levels: $64.80 - $65.50
- Most likely trading range: $61.50 - $64.00
Expected price by end of next week: $63.80
Trading Recommendation: BUY
- Entry point: $62.00 - $62.50
- Stop loss: $60.00
- Take profit: $64.80
Rationale:
- Strong institutional backing
- Multiple analyst upgrades
- Positive technical momentum despite recent SEC investigation
- Company's successful monetization initiatives and growth in bookings
- Target 20% bookings growth and approximately 150 points of margin expansion for 2025
Technical Analysis:
RBLX's recent price action shows a strong upward trend, with the stock currently trading at $62.40 . The stock has experienced significant momentum, reaching new 52-week highs of $75.74.
News Sentiment & Key Events:
- SEC investigation news caused temporary weakness but stock has shown resilience
- Strong institutional support with Cathie Wood's ARK Investment adding 369,000 shares worth $24.7 million
- Multiple analyst upgrades including BTIG raising target to $73 and Benchmark increasing to $71
Price Projection for Next Week:
Based on technical indicators and recent momentum:
Target Scenarios:
- Support levels: $60.50 - $61.20
- Resistance levels: $64.80 - $65.50
- Most likely trading range: $61.50 - $64.00
Expected price by end of next week: $63.80
Trading Recommendation: BUY
- Entry point: $62.00 - $62.50
- Stop loss: $60.00
- Take profit: $64.80
Rationale:
- Strong institutional backing
- Multiple analyst upgrades
- Positive technical momentum despite recent SEC investigation
- Company's successful monetization initiatives and growth in bookings
- Target 20% bookings growth and approximately 150 points of margin expansion for 2025