Looks like the bottomLooking for a reversal at previous resistance that eventually broke before hitting all time highs
ROKU trade ideas
Will ROKU reverse?Despite positive earnings ROKU stock price suffered. With a recent rejection at the top of the channel ROKU could use the bottom of the channel as support. $271 is an important support level, a price bounce off the support level would act as a potential entry. ROKU is just above 30 on the RSI. Indicators shows a slowing in the bearish momentum yet it is not bullish.
Bounce off $271:
Entry: $276
Price Target: $285
Falls through $271:
Entry: $266
Price Target: $251
There is small gap that has yet to be filled. If the price bounces that gap could act as the next support level
Roku long opportunityI am waiting for Roku to trigger me in at $231.28. If it gets to that level, I will hold for swing for a month or so. My TP will be @ $283. My stop loss will be triggered at $222.00
Happy Trading
ROKUI think roku $240.00 support is important as well holding level above $257.00 is also needed. If $240.00 fails we can see $200.00 fast
Short this stock right? Wrong! ❌Hi everyone, Yurii Domaranskyi here. Let's take a look at the chart:
1. horizontal price levels are working pretty good on the stock
2. globally stock in an uptrend locally in a downtrend
3. the level confirmed by touch and false breakdown
4. distant test of the level
5. approached with big bars
6. the stock made a move down 44.49% from the highest point
7. there was no accumulation
8. the stock closed above the level
9. from this level was made a move to all-time high
10. the stock has room for a move 1 to 5.1
11. broken model descending highs
12. Roku Announces $15 Roku LE Streaming Player Exclusively at Walmart for Black Friday on November 15
13. price came from the upper side, and we can see that someone does not let the stock go lower
14. the stock has the potential for a big move
Potential risk/reward ratio = 1 to 5.1 meaning that I'm risking a 100$ with a possibility to make 510$
Please, support our work with ❤️
$ROKU | TRADE IDEAStill extremely early in the move. Looking for a strong conviction candle to the upside to confirm my thesis...
ROKU in a beautiful Log channelAbsolutely gorgeous 3 year logarithmic channel it's formed here, almost flawlessly parallel. ROKU has bounced definitively off these supports and resistances six times, and it's looking like it may bounce again. MacD is open bearish, but RSI supports the notion that the stock has been severely oversold YTD, and is ready for a reversal. It has managed to avoid numerous instances of bearish RSI divergence, and posted a clean RSI double bottom (Class C hidden divergence) leading to it's most recent move to resistance. I would wait for reversal confirmation here, but this could be a fantastic BTD scenario.
ROKU: OH WHERE OH WHERE HAS THE COVID RIPPER GONE????I keep having to draw support lines lower - that's not good. $264 is my bottom of the barrel buy and I'm layered in calls. When ROKU guys, she goes. Problem is...did they shoot themselves in the foot by not adjusting their core businesses for a post-covid world?
$ROKU | WEEKLY WATCHLIST 11/15Looks very similar to the PayPal chart with a high risk/reward setup here. IF the $270 level holds, we may have put in a major low. Looking for a break above falling wedge resistance to confirm my bullish thesis. May enter a starter position this week.
Falling Wedge- Bullish - UpdateROKU still holding this falling wedge after selling off on earnings, however, finally looks to have found some support. Bullish and be watching closely for a breakout from this wedge (broader market conditions permitting)- Just some support and resistance levels to watch along with some RSI based supply and demand zones to keep an eye on in the meantime- Bullish
- Falling Wedge
- ABCD Harmonic Pattern Formed
- Bullish Hidden Divergence on the RSI
- Buyer Volume Starting to Pick Back up
PT1- $280.01
PT2- $281.73
PT3- $285.36
PT4- $288.80+
-Previously Charted-
Massive 1 year inverted diagonal Head & Shoulders on RokuRoku is a buy in the blue zone (112 - 118). Ideal price is 116.
- That represents the 618 retracement from its most recent trough and peak.
- It's also where the 50 day moving average falls (118)
- And where the most significant short term structure is.
And here is Roku inverted on a longer term basis... Sometimes seeing charts upside down show things more clearly.
ROKU - DIVERGENCE - CONSERVATIVE DOUBLE BOTTOM MOVEAll,
Back checking my first anlaysis on ROKU seems very plausible. I see once again a 280-290s push here possible failure then double bottom or wave 2 retracement either one. Both are fine just know when it fails to sell and re enter more calls at wave 2 or double bottom.
Overall trend
1st move- 276 to 285-290
Alt 1st move - 276 to 273 (bottom of wedge again)
2nd move - 290 down to 275ish or 280 (2nd wave)
Alt 2nd move - 273 to 285-290
3rd move - 275/280 to 293/305
Alt move - 290 back to 275-280
4th move - 293-305 breakout to 315
Alt 4th move - 275-280 to 293-305
ROKU - STRONG CONFLUENCE SUPPORT & AVG $30+ BOUNCE OFF TREND All,
OVERALL (BULLISH 70/30)
I think we break out this wedge down here either now or one more attempt on bottom of wedge and hit 280-293. However, see details below. I am most likely going to hedge downside depending how Mon/Tues go. A breakout Mon-Tues I will just go into maintenance mode and watch it closely.
FUNDAMENTALS
Let's get to fundamnetals first. There are some "doubters" on ROKU. However, they may be right in the future as of NOW in the past quarter financialls and NOW as a company ROKU is very undervalued here reardless of future ROKU beliefs. If you want to be short next quarter for reasons "XYZ" totally get that. Arguing against ROKU after 600% EPS and customers Y/Y drastically increasing it's very obvious ROKU is worth 375+ at a "fair" valuation.
TECHNICAL ANALYSIS
There is a very stong support trend line here that is holding on average acting as support we have $30-$50 moves off of it regardles of what comes after.
MY POSITION(S)
$300 Calls Dec 3rd 2021 @ $3.65
(Will add pending non breakout by Tues) -- Either $265 or $255 PUTS for Dec 3rd 2021 (May want to add some regardless just as protection or even shorter timeframe)
**Remember on options you can close/sell at any time there is a good chance if I get that 293 clean and soon I might just sell there and take a pretty solid profit. Or sell half and see if we can break the downward trend to push 315-330 area.**
BULLISH
PT #1: 285
PT #2: 293
PT #3: 304
PT #4: 330/342 --- "wait and see if we can break downward trend will be 3rdish time so 50/50 it breaks barring any bad/good news. Also approaching Christmas/Black Friday time.
BEARISH
I think the bearish comes from the obvious part of it not being able to re obtain that 376ish level. We are currently above that other previous low of 372. A break under that signls a possible big downside of 240s. The other factor is the overall market/SPY/Holidays/Feds
PT# 1: 267
PT# 2: 255
PT #3: 244
PT #4: 220 (if we somehow got down 220-240 range I will immediately swap to 100% calls and a huge buy in as the stock would be at such a mind blowing discount.
ROKU rebound maybe?Alerted that roku reached my buy area. Looking for roku to start accumulating and find support around the green area. we could just reverse from here but would much rather see a period of consolidation. regardless this area can be a great place to begin accumulating shares or leaps.
Roku has little downside before explodingConsidering the current market situation, I see that Roku will slide down to get the support form previous AVWAP at 261 and if if drops further the the next support is at 223.
ROKU almost time for me to flip long if $260 holdI have posted a short trading idea of ROKU a few days ago. Already took profit and flipped long at closing. $270c for next two weeks looks like a good risk reward, but always prefer to grab at least 4 weeks to avoid decay, long stock is less stressful for many as well.
Bear trap on ROKUThe lower wick on ROKU today could have been a bear trap. Feel free to plan your trades accordingly ;)
strategy for ROKU THURSDAY 11/11/2021ROKU: buy price (276.00)
ROKU: price (271.00)
strategy: our bullish entry must be above the buy possible gap and go price, if so we will take profits in the supply zone 285.0 or 284.00.
our bearish entry: here we must pay close attention, since the price is in a demand zone, although it does not break the zone, it should not be anticipated. this type of gap is the one that pulls back until the gap is closed
ROKU Daily Wolfe Wave Setup There is a wolfe wave setup on the Daily time frame in ROKU. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is 315 and then 330 gap fill . The price is expected to reach these targets within 14 days. There are several gaps above near 330 and 415. The yellow wolfe wave pattern uses a different length input value and identifies additional upside price tgt up to 415. There is a gap that is still open, it may or may not fill and just remain open into 2022. However, if the gap below 267 and the daily wolfe waves continue to display the present target prices, then the probability of success that both wolfe waves are correct become more likely to develop into a successful trade with excellent risk and reward.
ROKU LongDemand -- not fresh
It might be double top.
Entry 277
Stop 267
Target 347
*** Not sure why the Risk/Reward Ratio tool could not be displayed in this chart.
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
$ROKU | WEEKLY WATCHLIST 11/8Key level to watch here is $272. We must hold this level else I see a further drop on this one. Risk/reward here is good.
