ROKU UPDATE ACTIVE @here we are in ROKU we just entered this positon it is a lotto we are trading options on this one tight stoploss and use proper risk management
ROKU trade ideas
ROKU LONG SETUP to new 52 wk highsROKU has pulled back approx 29% from it's last leg up. The daily heiken ashi candle is forming a doji with TGIT trigger. This setup provide an opportunity for ROKU to run up to the 21 day ma ET strat tgt approx 375 to 380 into Monday or Tuesday. Tomorrow, Jpow speaks on Friday may introduce additional volatility but we believe ROKU moves higher from here. Confirmation is Friday green daily heiken ashi candle..
$ROKURoku has lost one-quarter of its value in less than a month. It cost $476 a share on July 19. Now it’s at $351. Even at that price, you’re paying 207x earnings, or 20x revenue.
Roku stock fell after earnings.
Operating income also fell from the previous quarter to $69 million.
Those numbers beat estimates, but user growth was seen as slow.
For many people who are invested in Roku it was just time to take profits.
Roku has 37% of the U.S. streaming market, but its global share is dropping.
Europe, Asia and South America are the new growth markets and Roku isn’t a player there (as of yet)
When we look at the technical side of things, Roku is still sitting in a nice uptrend.
We have a long term ascending triangle on the daily.
We’re sitting right at support which gives a nice RR ratio.
We have a double top on the daily.
MACD about to curl
RSI just coming out of oversold territory.
Keep this on your watchlist.
- Factor Four
Roku: Dead Cat Bounce? Roku bounced really well at the strong support zone and also changed the trend to bullish "U" on the daily and 4HR chart.Previous Resistance that turned into support $351 is crucial indicator of reversal. Making daily higher highs and higher lows gave it a confidence bounce upside. If it can hold at EMA 20 with volume, it can easily hit back to $360. Bullish trend on RSI as well. When it breaks, there will be a big opportunity. Selling pressure is slowing down and a trend change with the inverse hammer followed by a green candle. If it breaks the support of $340, its a dead cat bounce.
Roku x Inverse H&S Simple Charts: Price Action & Candlestick Psychology
- We've seen 1 market cycle with ROKU, and now we should see another one as football season is approaching in September, more viewers will be watching TV and other entertainment as the fall approaches and the weather gets colder
- Huge Inverse H&S on the Daily Chart
Fundamentals have only increased year after year
- ROKU INC - ANNOUNCED ITS LINEAR LINEUP HAS EXPANDED TO MORE THAN 200 CHANNELS, WITH A TOTAL OF 17 ALL-NEW CHANNELS LAUNCHING THIS WEEK ON ROKU CHANNEL
Target
- $700 by the EoY
ROKU Back on watchI was stopped out of ROKU last week after it could not find a base. Price looking like it would like to bounce again. My bias is long but one could play it long or short on a break from the tan box. To the upside the targets would be last weeks high and then fibs if it continues. To the downside the green box would be the target zone. The tan box could be used as risk depending on size used.
ROKU Trend Reversal incomingTicker: ROKU
Notes: Roku has been trending in this downward channel and finally bounced off of this Daily demand and broke out of that downard trendline. We just need confirmation on this breakout and be patient with it. We don't want to catch a falling knife.
Key Level:
Crossover above 200SMA (362.64) could be a good reversal entry for a target of 370 then 385.
Bullish- Looking for a breakoutROKU looking very interesting here- Double top played out as expected, however, ROKU held the longer-term uptrend quite nicely- will be watching closely for a breakout here (broader market conditions permitting). Just some support and resistance levels to watch along with some RSI based supply and demand zones to keep an eye on- Bullish
- Falling wedge (bullish) on shorter timeframes, Bollinger bands also squeezing (See Chart Below)
- Doji reversal right on the 200-day EMA
- RSI in oversold territory
- Buyer volume increasing relative to seller volume
- MACD cross looks to be imminent
PT1- $354.43
PT2- $357.50
PT3- $366.55
Roku: Trend Change LookoutRoku has touched the crucial $340 support zone and seeing a trend change to upside with an inverse hammer followed by a green candle. Selling pressure is slowing down as well. In technical short term, potential upside from $340 to $370/380. Also Roku has just rebounded above swap at $345.58. With a good momentum, could see a nice push upside rebound with RSI rebounded above 30.
Roku DailyMy last Roku analysis had a slight bounce (but yielded nearly 1k% w/ weeklies) but had no follow through and eventually died... given that tomorrow is monday (high chance of a pump) Roku is worth watching, especially w/ a massive falling wedge w/ RSI being oversold (level not seen since May) and it is sitting on a volume node. Gluck!
