STOCK SURGE DAILY
with Ross Givens
Home » Tracking a High Tight Flag on this Key Metaverse Stock

Tracking a High Tight Flag on this Key Metaverse Stock

Earlier this month, I told you that Facebook — now Meta Platforms, Inc. (FB) — CEO Mark Zuckerberg wants to own and operate the “metaverse.”

If you missed that article, you can read it right here: Why Mark Zuckerberg Wants to Own the Metaverse

And if you’re not up to speed on this topic, allow me to provide a bit of a refresher…

The metaverse is basically a virtual reality (VR) world where everything happens totally online.

I’m talking about going to school or work and even hanging out with friends…

Just strap on a VR headset, log in and you can begin interacting with the metaverse from the comfort of your own couch.

Now, not everyone is a fan of this idea, but I’m extremely bullish on the metaverse.

I expect it to be one of the hottest investment trends of the decade, and Meta Platforms isn’t the only major player in this space.

Roblox Corporation

Roblox Corporation (RBLX) is the San Mateo, California-based company that operates an online platform that allows you to program and play games and explore virtual worlds.

Fundamentally, the company is positioning itself nicely to capitalize on the metaverse megatrend.

But the reason I wanted to talk about this topic again today is that, from a technical perspective, the stock is setting up in a “high tight flag” pattern.

Weekly Chart of Roblox Corporation (RBLX)
Weekly Chart of Roblox Corporation (RBLX) — Source: TradingView

RBLX was one of the hottest initial public offerings (IPOs) of the year.

I’ve been looking for a good place to buy it, and this might be it.

Trading a High Tight Flag

If you’re not familiar, a high tight flag is an extremely rare bullish chart pattern.

It occurs when a stock climbs 100% or more in less than eight weeks.

This could be from news, earnings or seemingly no new information at all.

Such a move will almost always be accompanied by a large increase in volume.

Once the stock tops, you want to see a pullback of no more than 20%.

This is crucial… The reason you want to see a limited pullback is that it signals that profit-taking is minimal and most buyers are holding their positions.

If the stock can stay within that 20% range for two to six weeks and then break out into new highs, that’s the buy signal.

In other words, you want to buy it as soon as the stock makes a new high.

And for RBLX, that would be a move above $141.60.

I’ll keep you posted on how the price action develops, so stay tuned.

Embrace the surge,

Ross Givens

Editor, Stock Surge Daily

Brand New Strategy for Profiting from AI Stocks.

There’s a brand-new strategy in 2024 for going after big profits in AI stocks. It has nothing to do with Nvidia, Microsoft, Meta – or any of the big AI stocks the media can’t stop talking about.

It has to do with a fast-moving “backdoor” that has opened in the AI market... A backdoor that could send a very special class of AI stocks rocketing into the stratosphere.

Ross Givens
Ross Givens

I bought my first stock when I was 12 years old. It was Microsoft. I’ve been a registered financial advisor. I’ve worked as a stock broker. I ran a managed fund. I was a Vice President at JP Morgan with Series 7, Series 66 and Series 3 securities licenses. I’ve been featured on Fox Business, CNBC, Bloomberg, and a bunch of other networks. The only thing I enjoy more than making money, is helping YOU make money.

STOCK SURGE DAILY
With Ross Givens

Looking for an edge? Ross has the inside scoop on top analysis that will help grow your portfolio.. Receive a new stock opportunity every day and get ready to see your investment SURGE!

Tech stocks are rallying – and Ross Givens’ #1 Tech Stock of the Decade has been making BIG moves you don’t want to miss.

Whats in the Article

Recent Posts

As Seen On

1
2
Trustpilot
Stock Surge Daily

Join our daily newsletter and get notified daily on the next stock surge with Ross Givens

THIS MATERIAL IS OFFERED FOR EDUCATIONAL AND GENERAL INFORMATIONAL PURPOSES ONLY. NO INVESTMENT ADVICE OFFERED.

This is an advertisement for online information courses, workshops, classes and other educational programs relating to finance and investing. It is not an advertisement for investment advice. Pursuant to FTC regulations and federal law, Traders Agency, LLC intends for the information in this advertisement to be truthful and not misleading. Accordingly, any and all readers of this advertisement (this means you) are fully informed that none of the information, material, or courses that Traders Agency, LLC offers constitute investment advice as defined by the SEC and by federal law. These materials do not take into account a subscriber’s (this means your) particular investment objectives, financial situations or needs and is not intended as a recommendation, offer or solicitation (this means to you) for the purchase or sale of any security or investment strategy.

Under SEC regulations and federal law, the purchase, sale, or advice regarding any security, other financial instrument or system can only be performed by a registered/licensed industry representative such as, but not limited to, a registered investment advisor. It is very important todo your own analysis before making any investment based on your own personal circumstances.

Investing involves substantial risk and results are not guaranteed.

Neither Traders Agency, LLC nor its principals or affiliates are registered investment, legal, or tax advisors or broker/dealers.

Traders Agency, LLC is not registered with the SEC or licensed as an investment adviser. We do not offer investment or financial advice. Individual subscribers (this means you) are solely responsible for confirming the accuracy and appropriateness of the provided information for their own uses with their personal tax, finance, or legal advisor.

INVESTING INVOLVES RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS. RESULTS ARE NOT GUARANTEED.