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WhiteHuracan
Oct 1, 2020 8:43 PM

Critical spot for $ROKU Short

Roku, Inc.NASDAQ

Description

Shown in the chart, there is a long-time ascending channel that ROKU is now set to either retrace a bit or breakthrough. Being overbought on RSI and StochFULL, the technicals show a higher chance of a drop then a breakthrough. Plus you add the volatility with the elections and risks of market-pullback, equates to a higher than normal risk-reward to go long here.

My advice, if you're not long already, don't chase it at this price. Wait for a pullback.

Comment

The fundamentals of the overall market volatility and fear caused by the recent news of Trump and his wife contracting the virus make the analysis that much more plausible.
Comments
WhiteHuracan
I should also point out that we're possibly going to have a double top pattern play out, which, statistically speaking, occurs most of the time.
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