Roblox Breaks Out
Most high-profile tech IPOs from the past year have struggled – but not Roblox.
The maker of virtual-reality software ended last week at a new all-time high. Its chart also pulled off some interesting feats.
First, it broke the descending trendline running along the highs of April 13 and May 19.
Second, it had a powerful “kicker” pattern on May 11 after its first quarterly report as a public company showed strong bookings.
Finally is the question of simple relative strength. Companies like
Snowflake, NYSE:PLTR, NYSE:DASH and Airbnb have drifted lower for months. Ditto for videogame makers like Activision Blizzard and the 
SPDR Technology ETF. Those comparisons make RBLX’s breakout even more noteworthy.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
The maker of virtual-reality software ended last week at a new all-time high. Its chart also pulled off some interesting feats.
First, it broke the descending trendline running along the highs of April 13 and May 19.
Second, it had a powerful “kicker” pattern on May 11 after its first quarterly report as a public company showed strong bookings.
Finally is the question of simple relative strength. Companies like
Snowflake, NYSE:PLTR, NYSE:DASH and Airbnb have drifted lower for months. Ditto for videogame makers like Activision Blizzard and the SPDR Technology ETF. Those comparisons make RBLX’s breakout even more noteworthy.TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
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