RBLX - Resistance Turned Support
RBLX has broken previous resistance; now turned support. The following highlights key points
1. Breakout Candle; closed above resistance
2. Breakout Candle with above average volume
3. New Support Zone has been established
4. Major Impulse wave retraced to .618
5. MACD bullish
6. Target 1- Trendline Resistance
7. Target 2- Resistance area/zone ($46.30-$47.50)
8. Target 3- Resistance area/zone ($51.50-$53.50)
If price does not hold new support levels and price breaks(closes) below$41.50 then a possible retracement back to trendline support and so forth.
1. Breakout Candle; closed above resistance
2. Breakout Candle with above average volume
3. New Support Zone has been established
4. Major Impulse wave retraced to .618
5. MACD bullish
6. Target 1- Trendline Resistance
7. Target 2- Resistance area/zone ($46.30-$47.50)
8. Target 3- Resistance area/zone ($51.50-$53.50)
If price does not hold new support levels and price breaks(closes) below$41.50 then a possible retracement back to trendline support and so forth.
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