ROKU in a beautiful Log channel
Absolutely gorgeous 3 year logarithmic channel it's formed here, almost flawlessly parallel. ROKU has bounced definitively off these supports and resistances six times, and it's looking like it may bounce again. MacD is open bearish, but RSI supports the notion that the stock has been severely oversold YTD, and is ready for a reversal. It has managed to avoid numerous instances of bearish RSI divergence, and posted a clean RSI double bottom (Class C hidden divergence) leading to it's most recent move to resistance. I would wait for reversal confirmation here, but this could be a fantastic BTD scenario.
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