Roku has been slogging sideways for some time now. The problem is the bottom of the sphere and the base line beneath it are too close to one another. Price action can’t tell the difference between the two. Hence the whipsawing up and down in that tiny narrow range of 64-65.
The good news is the bottom of the sphere is finally beginning to curve away from the base and price action will soon be able to get back on track.
Forecast:
Price will slowly, slowly trend upward, finally breaking its $65 ceiling by April 10th. After a short battle at 70, it will fly up towards 75, probably getting rejected just beneath around 74.60 then probably dip back down to 72. It will meander its way to 80 by May 15th, 84 by the 24th, 87 by the last day of May.
Even if it doesn’t take my projected path, it will ultimately reach 87 by the end of May.
Slow and steady wins the race.
21 Jun $70 call.
Just in case at the end of May it becomes clear it’ll be testing its prior 107 high.
The good news is the bottom of the sphere is finally beginning to curve away from the base and price action will soon be able to get back on track.
Forecast:
Price will slowly, slowly trend upward, finally breaking its $65 ceiling by April 10th. After a short battle at 70, it will fly up towards 75, probably getting rejected just beneath around 74.60 then probably dip back down to 72. It will meander its way to 80 by May 15th, 84 by the 24th, 87 by the last day of May.
Even if it doesn’t take my projected path, it will ultimately reach 87 by the end of May.
Slow and steady wins the race.
21 Jun $70 call.
Just in case at the end of May it becomes clear it’ll be testing its prior 107 high.