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intelligent_investing
Aug 9, 2019 6:50 PM

ROKU: Bears would want to step aside until at least 138-140 Long

Roku, Inc.NASDAQ

Description

ROKU is on a tear and the price structure strongly suggests wave-iii of 5 of Cycle-C is underway. Based on Fib-extensions and retraces we should see this wave-iii top at around 138-140, then a pullback to about 112ish for a wave-iv of 5, before wave-v of 5 ideally targets the 148-150 zone. THAT would be a much better level to go short or place long dated puts IMHO. Trade safe!!
Comments
FT_Trades
I see 135.22/ becoming the new found support on the hourly intra-day ? What’s your thoughts ?
intelligent_investing
@Farahk, Nothing has changed my POV in that wave-iii of 5 should have topped and wave-iv of 5 to around $120-125 is now underway.
eatinc00kiez
shorted @ 141 today
intelligent_investing
@eatinc00kiez, good luck!
FT_Trades
thank you appreciate your prompt feedback
intelligent_investing
@Farahk, u r welcome
FT_Trades
What’s your thoughts on today’s action U still see resistance or pull back from 140$ ?
intelligent_investing
@Farahk, yes. Nothing has changed my perspective yet. Can always extend, so simple move stops up.
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