{"id":8550,"date":"2021-05-28T11:44:06","date_gmt":"2021-05-28T15:44:06","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=8550"},"modified":"2021-05-28T12:28:35","modified_gmt":"2021-05-28T16:28:35","slug":"rblx-breakout","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/rblx-breakout\/","title":{"rendered":"Hot Trade Review: $RBLX Breakout Leads to a +21% Gain in 5 Days"},"content":{"rendered":"\n
\"\"<\/a><\/figure><\/div>\n\n\n\n

Recent IPO growth stock Roblox ($RBLX) has broken out to new highs and is cruising steadily higher. Here’s a simple chart walk-through of the breakout entry that is on its way to a big gain.<\/h2>\n\n\n\n

In our previous post, Why Funds May Be Ready to Rotate Back in to Explosive Tech Stocks Again<\/a><\/em>, we explained that funds may be starting to move out of value stocks and back in to growth stocks.<\/p>\n\n\n\n

We are currently continuing to see more bullish confirmation of this trend this week, led by strong price action in tech growth stocks like $RBLX, $UPST, and $APP. <\/p>\n\n\n\n

On May 21, we notified subscribers that we were buying Roblox ($RBLX) in the Wagner Daily<\/a><\/em> <\/strong>model portfolio. <\/p>\n\n\n\n

As of the May 27 close, our $RBLX position is currently showing a price gain of +21% since our entry point. <\/p>\n\n\n\n

The annotated daily chart below shows the pattern and trade setup at time of entry:<\/p>\n\n\n\n

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Press the chart to view full-sized image<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

The horizontal line on the chart above shows the breakout level we were targeting going for entry going into May 21.<\/p>\n\n\n\n

That day, $RBLX broke out on heavy volume and closed +8% higher. <\/p>\n\n\n\n

Our original stop price at the time of entry was just below the 10-day exponential moving average (teal line), but we raised the stop to just below break-even the next day.<\/p>\n\n\n\n

As mentioned on the chart, market conditions are not been ideal because the Nasdaq Composite was below both its 20-day and 50-day moving average (not on a “buy” signal) when we bought $RBLX.<\/p>\n\n\n\n

Given current market conditions, we have been using tighter stops than usual in order to minimize risk–we want to immediately be right OR get right out!<\/p>\n\n\n\n

The chart below shows the $RBLX price action since our entry point:<\/p>\n\n\n\n

\"\"<\/a>
Press the chart to view full-sized image<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

After buying $RBLX on May 21, the stock followed through with another +8% gain the next day, on heavier than average volume (a bullish signal).<\/p>\n\n\n\n

Since then, $RBLX has continued to work its way higher and is currently showing a gain of +21% since our entry. <\/p>\n\n\n\n

From here, we will continue trailing the stop higher in order to maximize gains and minimize risk.<\/p>\n\n\n\n

Get started now<\/a><\/strong> with your Wagner Daily <\/em>subscription to be instantly alerted to changes in our $RBLX stop price, and to catch the next big winner on our radar. Wagner Daily PRO<\/a><\/strong><\/em> subscribers receive additional trade ideas and powerful trader education in our swing trader chat.<\/p>\n\n\n\n

HOT MEMORIAL DAY PROMOTION: <\/strong>Sign up now for your annual<\/em> Wagner Daily PRO<\/a> service and receive Deron Wagner’s exclusive, 7-part Swing Trading Success<\/em> video course for FREE ($298 value). Hurry! Offer expires on Tuesday, June 1.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Recent IPO growth stock Roblox ($RBLX) has broken out to new highs and is cruising steadily higher. Here’s a simple chart walk-through of the breakout entry that is on its way to a big gain. In our previous post, Why Funds May Be Ready to Rotate Back in to Explosive Tech Stocks Again, we explained […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[3],"tags":[],"class_list":["post-8550","post","type-post","status-publish","format-standard","hentry","category-stock-trading-strategy"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/8550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=8550"}],"version-history":[{"count":10,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/8550\/revisions"}],"predecessor-version":[{"id":8584,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/8550\/revisions\/8584"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=8550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=8550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=8550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}