From Ian Cooper

Roblox Corp. (RBLX) just broke from consolidation.

Now, if it can break above double top around $47.50, it could eventually retest $53.  From there, we’d eventually like to see it refill its bearish gap around $70.

All as user growth numbers improve.

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In September, for example, daily active users were 57.8 million, up 23% year over year. Hours engaged were 4 billion, up 16% year over year. Better, estimated bookings were between $212 million and $219 million, up 11% to 15% year over year.

We also have to consider the metaverse could be bullish for RBLX, too. According to analysts at Emergen Research, the metaverse market could be worth up to $828.95 billion by 2028.  Even analysts at Bloomberg Intelligence says it could reach $800 billion by 2024.  In short, we could be looking at a massive game-changing market here for companies, such as Roblox Corp.