For aggressive traders, it may be wise to short the stock at the upper trendline and exit the trade at the lower trendline.
However, bearish traders may see the stock continue to move downward within the channel for a short period of time. The measured move of the flag is 23%, indicating that Roblox could potentially trade up towards $46. This pattern is characterized by a sharp rise in the stock price, forming the pole, which is then followed by a consolidation pattern that brings the stock lower within a channel with parallel lines or a tightening triangle pattern. On May 18, 2023, Roblox Corporation (NYSE: RBLX) experienced a significant breakout from a bull flag pattern on the daily chart, resulting in a 6.57% rally on Wednesday.
0 kommentar(er)
