Has ROKU bottomed out? Reversal into play?
TWO PIECES OF EVIDENCE:
1) PPS Action: Roku has been hitting lower highs. It wasn't until Friday, 1/17 where it could not break past it's last lower low of about 126.3 which happened on 1/13. On 1/17, it hit 128.58 before rebounding to 130.38 market hours. This indicates that Roku might next hit higher lows given lower highs? Actions like this could be signs of A BREAKOUT.
2) RSI bullish pattern: The PPS of stock hits lower lows, while the RSI hits higher highs. In this instance, Roku's RSI is increasing in an ABAB pattern while its PPS hits lower lows.
-Example of what Roku's RSI is doing:10 to 15 to 12 to 17. 15 is higher than 10. 12 is lower than 15 but higher than 10. 17 is higher than 15. This is a gradual increase ABAB pattern.
Disclaimer: I'm very new to analyzing stocks. But from what I can observe, this is WHAT HAS HAPPENED and I find it bullish on future price action from ROKU.
TWO PIECES OF EVIDENCE:
1) PPS Action: Roku has been hitting lower highs. It wasn't until Friday, 1/17 where it could not break past it's last lower low of about 126.3 which happened on 1/13. On 1/17, it hit 128.58 before rebounding to 130.38 market hours. This indicates that Roku might next hit higher lows given lower highs? Actions like this could be signs of A BREAKOUT.
2) RSI bullish pattern: The PPS of stock hits lower lows, while the RSI hits higher highs. In this instance, Roku's RSI is increasing in an ABAB pattern while its PPS hits lower lows.
-Example of what Roku's RSI is doing:10 to 15 to 12 to 17. 15 is higher than 10. 12 is lower than 15 but higher than 10. 17 is higher than 15. This is a gradual increase ABAB pattern.
Disclaimer: I'm very new to analyzing stocks. But from what I can observe, this is WHAT HAS HAPPENED and I find it bullish on future price action from ROKU.