Morgan Stanley downgraded price target to $110.
Average Analyst Price Target - $124.93
Current price is $137+
We need to see ROKU break the white to confirm the lower gaps may get filled.
Price may bounce off the white line back up, into the pattern to fill the gap down created today.
I am in this position for Dec 20 Call Credit Spread - 135/140 Strike ( ). Works out to 65% probability with 1:1 payout.
This is short notice entry, but risk is small.
My opinion - Who is going to be buying this dip in ROKU after 400%+ returns YTD, at ATH's, with a 15% downgrade, during the holidays?
Answer - I cannot think of anyone who would spend Xmas gift money on ROKU stock with issues stated above.
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I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC , BTCUSD , GDX , VIXY .
Short SPY and AAPL ....and ROKU (for now).
Average Price target is $127 - 14% downside