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Benzinga
Benzinga
Technology
Melanie Schaffer

Here's Why Roblox Stock May Be Headed To $50

Roblox NYSE Roblox Corp

Roblox Corp (NYSE:RBLX) was trading more than 6% lower at one point on Tuesday in consolidation, after a massive 66% increase between May 11 and Monday brought the stock up to the $36.43 mark.

The surge higher negated a long-term downtrend Roblox had been trading in and the retracement lower on Tuesday may become confirmation the stock is about to trade in an uptrend. The retracement, as well as functioning as a possible higher low, may also form a bull flag on Roblox’s daily chart.

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