On the daily chart I am becoming a bit concerned about overall momentum and this $126.71 level. If we lose that level we could quickly see $111-$112 area. I'll post a new daily chart soon that illustrates my concern.
For now, that level hasn't broken so we need to keep our bias in check and play what the chart gives us.
I haven't added any new lines to my chart recently, and we can see that ROKU is respecting previous levels pretty well.
[resistance]
We've touched and respected $132.30 resistance in pre-market, so that level is still on the table as our first resistance level. If we can make it past that, we have $133.93 and $134.80 levels to deal with. There's decent volume at price in that area so expect some resistance. If we have legs, we can find $136.81.
[support]
Rejecting a previous resistance is always of concern. We're up a decent amount in pre-market, so I am watching for a pullback at the open. Currently $131.25 followed by 128.20 - 128.80 area, again, my line in the sand is $126.71. It a good risk reward level, but the more we visit the level in a short period of time, the more concerned I am with losing that level.
Comment
⋅
Watching this level (134.80 area) closely for rejection. Bulls are strong right now though.
Comment
⋅
"If we have legs, we can find $136.81. " See how we're respecting this level?
Didn't expect to see $136.80 with such strength, if we break this we can see $138.99.