Roku, Inc.Long
Springish
Obvious and typical *Drunk Spider Web* pattern unfolding.
DMI indicates we just saw the spring of a wyckoff accumulation phase - still needs to complete sign of strength and backup/retest before markup.
Within this zone can also see a triangle that broke out, then retested support. However, ROKU has quite a web of resistance - could swing long near term calls around 100 strike and hedge 3:1 (perhaps Jul 8 100c, Jul 1 85p)
Confirmation for big long would need to see a run from here to around 111, then test of around 100 and bounce from there. If that plays out I’d become very bullish with initial target 140. Not Financial Advice.
DMI indicates we just saw the spring of a wyckoff accumulation phase - still needs to complete sign of strength and backup/retest before markup.
Within this zone can also see a triangle that broke out, then retested support. However, ROKU has quite a web of resistance - could swing long near term calls around 100 strike and hedge 3:1 (perhaps Jul 8 100c, Jul 1 85p)
Confirmation for big long would need to see a run from here to around 111, then test of around 100 and bounce from there. If that plays out I’d become very bullish with initial target 140. Not Financial Advice.
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.