Something Brewing?
Relative strength is often a good tell. Sometimes of course it will be nothing, but often it is positive information. Below is the chart of RBLX, and this stock acted well on Wednesday up almost 6% on robust volume. That was good relative strength as the IGV was higher by .7% and the XLC was UNCH (some classify Roblox as a software play and others as a communication services play). On the ratio chart at the bottom of the chart, I compared it to the XLC which is a tough one as top-holding META is up more than 200% from last November’s lows. GOOGL is just off 52-week highs and NFLX is punching through the very round 400 number. RBLX has CLOSED very tautly the last 3 weeks all within just .76 of each other and breakouts from this type of coiling action tend to be powerful. I think this name will seek out the very round 50 number in short order.