ROKU saw an incredible run up of about 10% yesterday, where majority of the market were still left bleeding.Do note that this is a risky play at the moment, as
ROKU is at a strong support if you look at the weekly timeframe. Nonetheless, the risk to reward seems attractive at this level. This is because we saw a massive run up from the previous trading day at open. The faster the the move from previous price levels, the faster the drop when price breaks through the resistance turned support. Conservative traders can look to enter if price reaches and gets rejected at resistance again as that would present a triple top setup.
Happy Trading
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.