ROKU formed an inverted H&S before breaking up the neckline @ 390 on 22 June. It then continued to 463 (A) before started to correct over the next 2.5 weeks back to the neckline @ 390 (B). As soon as it tested the neckline on 19 July (now resistence turned support), it began a steady rebound.
The inverted H&S target is at 507, incidentally this is also the 1.618 fibonacci extension of the AB swing upwards. It would be interesting to see if this target can be reached before it announces earnings on 4th Aug!
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Feel free to drop your comments :)
The inverted H&S target is at 507, incidentally this is also the 1.618 fibonacci extension of the AB swing upwards. It would be interesting to see if this target can be reached before it announces earnings on 4th Aug!
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Thank you. Feel free to drop your comments :)