Like many growth stocks, Roku pulled back sharply in 2022. But now after a year of consolidation, the streaming-video company may be trying to recover.
The first pattern on today’s chart is the bullish gap on July 28 after quarterly results beat estimates.
Second, ROKU pulled back to form a base around $76 after the rally. That was near the peaks of mid-June...
On Friday ROKU reached EMA 50 and we got a reversal from there like previous times , despite SPY and market direction it just kept going up .
we could see more movement to the upside
Roku - 30d expiry - We look to Buy at 75.11 (stop at 69.11)
The sequence for trading is higher highs and lows.
The trend of higher lows is located at 74.50.
Previous resistance at 75 now becomes support.
We look to buy dips.
This stock has seen good sales growth.
Expect trading to remain mixed and volatile.
Our profit targets will be 90.11 and 93.11...
New Bearish Alert after a failed bullish Setup.
This time there is a double bottom to give the possible signal for a stronger downward trend.
Gap left open at about $70
Roku price action is not the easiest to count. The uptrend since May is wonky but clearly an impulse. It is possible that this uptrend has been a B wave and new lows are yet to come, but, for that need to see price breaking below key support levels, $68, $58 and most importantly, $50. For now, price is bouncing off key fib retracement target, so still staying with...
Roku's stock price has been on an upward trend recently. However, it is unclear whether this trend will continue, as the company's financial performance has been lackluster. The Consumer Price Index (CPI) report, which will be released later this week, could have a significant impact on the stock price. Only time will tell whether Roku will continue to rise or if...
Above 92 RoKu will Reach 97 .
Posible to reach 100
but 97 is more Realistic to Take Profit
Stop Loss is 87
is 50/50 Trade
Do not Overleverage !!
NASDAQ:ROKU
Considering the formation of the expanding triangle as a distinct guide for us.. We are waiting for the last bearish leg to reach the areas of $45, $42, and from there we expect good and excellent correction areas... All of the above fails upon the breach of $62.
If you haven`t sold ROKU`s double top:
Or bought the dip here:
Then analyzing the options chain and the chart patterns of ROKU prior to the earnings report this week,
I would consider purchasing the 75usd strike price puts with
an expiration date of 2023-8-25,
for a premium of approximately $7.45.
If these options prove to be profitable prior to the earnings...
After the quick rise to over $74, ROKU dropped to mid-60s and formed bear flag. Recent break and re-test fail shows legs. Potential to go sub $60 if pattern plays out.
Hourly Chart.
Bullish alert after the price, with this last wave found support on the 0.618 fib level for a perfect pullback.
The daily chart is already bullish.
Ever since the 12 months double top from Nov20 - Nov21 resulted in the plunged of stock price from the high of about 480 to 90, stock price of NASDAQ:ROKU has been on side way for awhile
Where will it go from here.
My own guess is mean reversion sometime to come
The ~55 is a pretty fragile line, if price continue to drop below 55, the more plunge or...
Blue solid lines are established downtrends, green dotted lines are established uptrends. Both the uptrend and downtrend lines are established from equilibrium points, (not highs and lows). Thickness of lines illustrates strength of previous price action. Circles are the crossing of uptrend and downtrend, usually resulting in reactions.
