Roblox Corporation (NYSE: RBLX) was relatively flat in the premarket on Thursday after rallying 6.57% on Wednesday, breaking up from a bull flag pattern on the daily chart.

If Roblox retraces on Thursday and holds above the 200-day SMA, another higher low will print, which could give bullish traders who aren’t already in a position a solid entry point.

BTIG analysts said the firm likes the setup for Roblox Corp (NYSE:RBLX) into the company's upcoming earnings release on Wednesday, May 10. The firm raised estimates for the online game platform ...

The positive reaction to Roblox print may have been anticipated by technical traders, because the stock had developed a bull flag pattern on the daily chart under the 200-day simple moving average.