Being a recent issue, it is a lot harder to time the ideal entry and to keep the risk-reward profile low, but this has the potential to replicate what RBLX did in May when it vaulted above the $77.50 level and had major gains in the following sessions.
The volume pattern is there, and it has been gaining momentum. More cautious traders could wait for a potential pullback to this zone around $20.60-$21 zone.
In the case of SNOW last November for example, pullback occurred only after nine days of a strong move and was followed after that by an explosive blow-out four days, as the stock just kept advancing higher and higher from its IPO base.
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