While some are sure Roku is dead, there might be signs of a turnaround. Weekly DI is now in bullish territory, with green DI being above 20 and red DI below. ADX turning down also signifies that the massive down move might have ended and a new phase is starting. I will be closely watching the retrace of the latest bounce to hold 50% fib level and create some kind of an inverse head and shoulders pattern along with the trendline breakout retest. If all of that plays out, it will be the sign to jump back in it for a crazy move up.
Comment:
And away it goes. The next few days of price action will be very important for the trend.
