Roku, Inc.Long
ROKU Elliott-Wave Analysis
Updated
ROKU likely topped out in the first Elliott-Wave(1).
Price is expected to fall back to the grenn line (SMA), find support and establish the Wave(2)-bottom. Afrerward, im very bullish on the upcoming Wave(3).
Price is expected to fall back to the grenn line (SMA), find support and establish the Wave(2)-bottom. Afrerward, im very bullish on the upcoming Wave(3).
Note
Price actually fell a bit far for my liking. Not quite sure if this scenario is still valid.Trade active
The Chart found nice support. The Wave (2), marked in blue might already be complete. The price could now start rising towards Wave (3). In my eyes mid term gains of 50% are reasonable.
Well have to see what the future holds.
My buy in sits around $59.88
Note
Structure looks like, the small Wave(2) is not quite finished.
I think there could be some more downside potential. But price falling below the high volume range (visible on the right side) is very unlikely.
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