Roku, Inc.Short
Roku Oversold with a double top
ROKU is showing signs of a double top and retracing to support around ~$53. With a new shelf offering https://www.sec.gov/Archives/edgar/data/1428439/000119312519071320/d705063ds3asr.htm for unknown reasons and RSI at oversold level, I believe Roku will be heading back to more recent support levels. Roku has positive news as well with support for Airplay 2 (coming soon) and a new Amazon Alexa skill. I don't believe the positive news will outweigh this oversold condition.I am currently short
ROKU.
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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.