ROKU is going DOWN -- That is official H&S/Double Top -- $83 ?
Check other posts for progress over last couple weeks... this needed to breach $104 resistance, and it seems to have failed...
Probably falling down to at least $98 level now, this will likely test $93 next, then eventually through to $83 support... Granted, the stock market morale doesn't take a turn for the worst during earnings season, this should pop back up on solid rebound and again through ER early August -- possibly to new all-time highs again... yes, that's volatility for ya folks!
OR, if people do get sentimental and fearful, then this could plummet down to the highly requested $65 range... then, it may take a few more months to rebound, if the market does... that is too far down the line for me to judge.
DOWNSIDE POTENTIAL CONFIRMATION:
RSI, Chande Mom, and CMF ... ALL topped within last 48 hours... now, 1Y MACD has been slowly forming downwards curve... this would be devastating for negative crossover... well, as shown in chart (for LT shareholders at least)
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FOR NOW:
Check for support at $98, $93, and $88... and obviously, exercise extreme caution if this reaches $83 support... it could either signify bottom or another big fall... I'll post buy-in points should we get to this point.
Probably falling down to at least $98 level now, this will likely test $93 next, then eventually through to $83 support... Granted, the stock market morale doesn't take a turn for the worst during earnings season, this should pop back up on solid rebound and again through ER early August -- possibly to new all-time highs again... yes, that's volatility for ya folks!
OR, if people do get sentimental and fearful, then this could plummet down to the highly requested $65 range... then, it may take a few more months to rebound, if the market does... that is too far down the line for me to judge.
DOWNSIDE POTENTIAL CONFIRMATION:
RSI, Chande Mom, and CMF ... ALL topped within last 48 hours... now, 1Y MACD has been slowly forming downwards curve... this would be devastating for negative crossover... well, as shown in chart (for LT shareholders at least)
-------
FOR NOW:
Check for support at $98, $93, and $88... and obviously, exercise extreme caution if this reaches $83 support... it could either signify bottom or another big fall... I'll post buy-in points should we get to this point.