The Roku Indicator Part II - Second Confirm Would be Absurd
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Ironically enough, while the Roku Indicator is apparently an excellent predictor of market downturns, it tells you very little about what Roku itself will do in the days following the flag.This stock might ruin humanity one day.
Trade closed: stop reached
Too bad it failed, could have been kinda cool. "Absurd" is a stretch given that its happened enough times in the past.What is absurd, however, is how Roku's current price action has been technically possible for this long.
I don't think I've ever seen any stock attempt a 90-degree break of the same spot it recently just failed at, bounce horizontally after being thrown over, and then successfully break said spot a few sessions later.
I also didn't think it was possible for Roku to post a profitable quarter and am unsure which apparent fact makes less sense.
Jeez.
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