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Trend Analysis: ROKU - Elliot Wave and C&H PatternNot an expert at EWT , but it's relatively easy to see a wave 4 correction of larger wave 3. I'm targeting a pullback here before earnings to the horizontal white line (which was previous resistance before the recent breakout) and then continuation of wave 5 of 3 to about $210 (2.618 x total length of wave 1 (which is about 80 ($140-$60)). Furthermore, I see the wave 4 correction allowing for a potential handle of a cup n handle pattern. Which takes the chart ultimately to about $260 before the next consolidation phase.
NASDAQ:ROKULong
by daytradederic
2
Roku: Bullish Confirmation Analysis 4H (Jun. 17)X Force Global Analysis: Roku is an American company offering a line of digital media players that offer access to streaming media content. In this analysis, we take a look at the technicals and fundamentals of this stock, assessing potentiality for a bullish rally. Fundamental Analysis - Roku stock has declined by almost 40% from its highs due to the impact of the recession and negative short-term news flow, but the big picture remains intact, and Roku is still a market leader in programmatic advertising with enormous room for growth in the long term. - User growth and engagement remain stronger than ever. - Despite the lowered advertising expenditures, Roku will still be able to deliver substantial revenue growth this year - Profit margins will be affected by weak advertising demand during the recession, but the business model allows for attractive profitability at the fundamental level - Thus, makes sense to expect Roku to deliver expanding margin in the years ahead if management executes well. Technical Analysis - The first thing we spot is a reverse head and shoulders pattern on the 4H chart - The right shoulder has completed its formation, and prices have broken through the descending trend line resistance, as well ask the neckline - Prices demonstrate strong bullish momentum with bullish engulfing candles - Prices have also broken through and closed above the Ichimoku cloud resistance, indicating a bullish trend reversal - The Exponential Moving Average (EMA) Ribbon is also looking to form a bullish cross - The Relative Strength Index (RSI) creates higher lows and higher highs, showing an uptrend - The Moving Average Convergence Divergence (MACD) shows increasing bullish histograms as well. What We Believe While we believe that Roku is valued at the right price, not only does it have solid fundamentals for long term growth, technicals demonstrate immediate term bullish potential. Trade Safe.
NASDAQ:ROKULong
by XForceGlobal
$ROKU Follow The Yellow Brick Road!Roku is slowly becoming one of my favorite stocks to trade, There's more action than a Schwarzenegger movie. OK ok enough with the bad movie jokes, lol. I have used all my trusty indicators, price action techniques everything short of a crystal ball and arrived at this conclusion... I hope it helps you guys/gals (I'm not a sexist please don't go through all my old tweets and harras me like you did to Kevin Hart) with your trades ;) lol
NASDAQ:ROKU
by MarketWarfare
2