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Roku, Inc.
Long

ROKU Beautiful Breakout (ABCD Pattern)

By ChaseMColvin
This morning ROKU gapped up at open above 221 resistance and rejected 239 resistance, but shortly after continued in an uptrend, forming a textbook ABCD Pattern. If you bought at the dip (Point C) or shortly after the price broke above 239 resistance, you got some nice profits and were able to ride all the way to Point D if you sold at or above 252 Resistance. Although ROKU continue to move upward towards 260 by EOD, my initial price target was 252 resistance and it was a beautiful trade. Support and Resistance levels with a basic understanding of chart patterns is all I need, it isn't necessary to make things overcomplicated, keep it simple :)
AB=CDSupport and ResistanceTrend Analysis
ChaseMColvin

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