Roblox Stock Jumps 5.6% In Two Days As Technicals Signal Bullish Breakout

Roblox (RBLX) rose 3.37% in the most recent session, marking its second consecutive day of gains and a two-day cumulative increase of 5.60%, closing at $100.44. This momentum follows a recovery from a recent pullback, supported by above-average trading volume of 9.31 million shares. Subsequent technical analysis evaluates this movement within the context of broader trends and key indicators.
Candlestick Theory
Roblox’s daily chart shows a bullish reversal pattern emerging near the $93–$95 support zone, validated by consecutive white candles on June 13th and 16th. The June 16th session printed a long-bodied candle closing near its high of $100.76, indicating strong buying pressure. This aligns with a key resistance level near $100–$101, which has capped prices multiple times in May and June. A decisive close above $101 would signal bullish breakout potential, while failure here may trigger profit-taking toward secondary support at $94.
Moving Average Theory
The 50-day moving average (currently near $92) has acted as dynamic support during pullbacks, reinforcing the primary uptrend from Q4 2024. Crucially, the 50-day crossed above the 200-day MA in January 2025, establishing a long-term bullish structure. Recent prices rebounded precisely off the 50-day MA on June 10th, reinforcing its relevance. However, the 100-day MA ($87) is now diverging slightly below the 50-day, suggesting some near-term consolidation risk if short-term momentum falters.
MACD & KDJ Indicators
The MACD histogram shifted into positive territory on June 16th, with its signal line crossing upward—a classic bullish momentum signal. Concurrently, the KDJ oscillator exited oversold territory (sub-30) on June 11th, and its %K line (now near 75) is rising above the %D line. This dual momentum alignment supports further upside, though KDJ’s approach toward overbought levels (above 80) warrants caution for a short-term pullback. No bearish divergence is evident between MACD and price action.
Bollinger Bands
Bollinger Bands contracted sharply in late May, signaling reduced volatility ahead of the current breakout. The June 16th close breached the upper band ($99.50), typically an overextended signal. Historically, such breaks in Roblox have preceded brief consolidations, with the middle band (20-day MA, $96) now acting as initial support. Band expansion from June 13th onward confirms renewed bullish momentum, though a mean-reversion pullback toward $97–$98 appears probable near-term.
Volume-Price Relationship
Volume surged 34% above the 30-day average during the June 13th breakout, validating the bullish reversal. Follow-through volume on June 16th remained robust, enhancing confidence in the uptrend’s sustainability. Notably, distribution days (declines on high volume) were absent during the May–June pullback, indicating no institutional selling pressure. The volume-weighted average price (VWAP) since May’s low is $88, now serving as a secondary support floor.
Relative Strength Index (RSI)
The 14-day RSI rebounded from near-oversold territory (34 on June 10th) to 62 currently, reflecting strengthening momentum but leaving room before overbought concerns arise (>70). This aligns with the MACD/KDJ signals but warrants monitoring for potential divergence if prices stall near resistance without corresponding RSI highs. Historically, RSI peaks above 70 in April and February coincided with short-term reversals, suggesting traders should watch for similar exhaustion signals if the rally extends.
Fibonacci Retracement
Applying Fibonacci levels to the rally from the October 2024 low ($37) to the April 2025 high ($74.24), the 61.8% retracement level ($67.50) held as support in May—precisely where Roblox reversed its downtrend. Current prices are testing the 138.2% extension level ($101.50), which converges with horizontal resistance. A confirmed break above $101.50 would open the path toward the 161.8% extension ($109), while rejection here may retest the 50% retracement support ($94.50).
Confluence and Divergence Notes
Multiple indicators align at the $100–$101 resistance: Bollinger Band breach, Fibonacci extension, and prior price congestion converge here, making it a critical breakout zone. Bullish confluence exists in momentum (MACD/KDJ/RSI) and volume confirmation. The only minor divergence is Bollinger Bands suggesting short-term overextension while RSI remains neutral—implying potential consolidation rather than reversal. Should Roblox sustain above $101 on high volume, the technical structure would favor continued upside toward $109–$110. Failure to hold gains here may signal another test of the $93–$95 support cluster reinforced by the 50-day MA and volume-based demand.