Roku - Downtrend remains despite lurking pullback

Updated
Since december 2018 Roku has been in a clear impulsive wave that topped at 175 and made a sharp reversal.

This correction has more the caracteristics of an impulsive wave than a correction, so, I suspect this to be only the first leg, wave A, of the overall correction.

For now we can count 3 waves which means we should see a small pullback for wave (iv) followed by a new push lower for wave (v) before we see it go higher for red wave ((b),
followed after by red wave ((c)) which should then make a new low.

Levels to Watch are the Fib retracements, 50% at 100.0, ; 61.8% at 82.3 ; and the last line of defense for bulls, the 78.6% level at 57.7.

Don't forget to keep an eye on RSI and MACD for some bullish divergence before considering wave ((a)) in place.
Note
Don't hesitate to like and share my ideas
Also, Subscribe to my FREE Telegram Channel for MANY more updates
t.me/em16public

If you have ANY questions, reach out to me through
comments, chat or my Telegram t.me/ewbelgium
Note
For now this move up looks impulse which suggests it might be wave a of corrective red wave ((b)) and so see a 3 wave correction down to around 50% of this move followed by a push higher above current wave a high into 152.50 resistance as wave c of red wave ((b)).
(Note that red wave ((c)) will be calculated once we're confident wave ((b)) is in).
snapshot
Beyond Technical AnalysisriskrewardROKUshortTrend AnalysisWave Analysis

Don't forget to like, share and follow !

Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public

Thanks !
Also on:

Disclaimer