Roku has been a market leader for all of 2018. after a bit multi day pullback here we are testing the 50sma for the first time in a couple months. This has been a key bounce spot on this name.
The $qqq and $iwm are oversold now we could very well bounce into the close. I am long a few of these for a daytrade. Will turn to swing trade if it can close green and market can ramp up here this could be a nice multi day entry. The close is key!
Concerns for the trade are the $qqq conditions. the tape is weak and $tvix is elevated intraday if $tvix can stay under vwap that will give us the push we need to ramp.
The $qqq and $iwm are oversold now we could very well bounce into the close. I am long a few of these for a daytrade. Will turn to swing trade if it can close green and market can ramp up here this could be a nice multi day entry. The close is key!
Concerns for the trade are the $qqq conditions. the tape is weak and $tvix is elevated intraday if $tvix can stay under vwap that will give us the push we need to ramp.