ROKU - Breaking Out
SPX breaking out to all-time highs this morning & Roku is following as it breaks out after bouncing off gap support. We will have to see if it can hold the breakout.
The price targets are at $149.80, then $180.90 which are 61.8% & 100% Fibonacci Extension levels.
The price targets are at $149.80, then $180.90 which are 61.8% & 100% Fibonacci Extension levels.
Trade closed: target reached
The stock price rose to hit the initial Fibonacci target & began to fail at that level. Depending on your trading style you can either close out the position & bank your profits or just take some money off the table so that if the move continues you still have a small open position.Note
ROKU has pulled back since hitting my first price target level & gapped down today after an earnings report. The stock has since gone green on the day seemingly finding support on the bearish magenta trendline that used to be resistance but may now have turned into support. Stock price has also found previous gap resistance that can now be acting as support.
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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.