hi Traders,
Let's have a look at RBLX on the weekly time frame.
RBLX has been in a accumulation zone since May 2022 when the price found a bottom.
However, the price has been getting rejected at the 47 $ resistance which is also a 0,786 fib level.
From another hand, the accumulation has last forever and not sure if we're going to get another retest of the bottom.
2 scenarios which are shown on the chart:
1. Buy at the bottom if the price goes down. Entry: 25-26 dollars.
Targets/take profit levels are shown on the chart (each fib level may act as a resistance so do not hesitate to take profit)
stop loss: 22-23 $
2. If the price breaks the resistance at 47 $ and retests and confirm this level as a support, you may take a long position.
Targets the same as in the Scenario 1.
If you're patient , 95 $ and even 110 $ may be reached, but it will take some time.
Let's have a look at RBLX on the weekly time frame.
RBLX has been in a accumulation zone since May 2022 when the price found a bottom.
However, the price has been getting rejected at the 47 $ resistance which is also a 0,786 fib level.
From another hand, the accumulation has last forever and not sure if we're going to get another retest of the bottom.
2 scenarios which are shown on the chart:
1. Buy at the bottom if the price goes down. Entry: 25-26 dollars.
Targets/take profit levels are shown on the chart (each fib level may act as a resistance so do not hesitate to take profit)
stop loss: 22-23 $
2. If the price breaks the resistance at 47 $ and retests and confirm this level as a support, you may take a long position.
Targets the same as in the Scenario 1.
If you're patient , 95 $ and even 110 $ may be reached, but it will take some time.
💥 Free signals and ideas ➡ t.me/vfinvestment