ROKUStrong move over the 363 level yesterday. If ROKU can break over 376 it can see 383, 390 next.
Trade Idea: 385C 9/3
ROKU trade ideas
ROKU Channel ReversalTrading conservatively within this channel from the covid lows of 2020, and discounting the rallies that broke out of it, it looks like ROKU is about to replicate this pattern reversal and touch the upper trendline. On each of these past reflexive bounces, the length and time of the rally has been fairly consistent and coincided with the MacD curling. After the recent correction in ROKU stock, the MacD is again curling and indicating a reversal is underway. Conservatively, and assuming we don't break out of the channel, we should see ROKU rally over the same length and time as the last 4 occasions. This should take ROKU to 420 by September 20 . This also lines up with the 50 percent Fibonacci retracement from the correction.
ROKU $400 by 9/24?ROKU bounced again and it had strong bullish volume today.
- Strong earnings (it's just now recovering after dropping on good ER)
- Needs to break above 50MA and 200MA
Also, it WAS forming a "cup and handle"pattern but it retraced back more than half of the cup. Not the ideal C&H pattern.
Still worth the trade if tomorrow and Friday can hold the $351.50 level.
ROKU, near term target $375Target of $375 is eminent, the 5 wave has been on upside i.e, counter to downtrend.
Near term upside is $375, it may then, resume is downward journey.
ROKU Long to 50DMAWe got a runner over 20DMA and 200DMA.
No resistance until $380 if it clears can run to the 50DMA.
ROKU back in playI like the price action so far. It has been trying to make a run for a week here and getting rejected in the 365/366 area. If it can final push through and break 368 this could take off. Need to give it some space so size accordingly. Like it above the green box. first target would be 375.
ROKU UPDATE ACTIVE @here we are in ROKU we just entered this positon it is a lotto we are trading options on this one tight stoploss and use proper risk management
ROKU INTRADAY 15MIN lottoROKU respected the demand zone we are going long its a lotto we should see some nice gains here targeting a strike as close to price as possible with a very very tight stoploss use proper risk management
ROKU LONG SETUP to new 52 wk highsROKU has pulled back approx 29% from it's last leg up. The daily heiken ashi candle is forming a doji with TGIT trigger. This setup provide an opportunity for ROKU to run up to the 21 day ma ET strat tgt approx 375 to 380 into Monday or Tuesday. Tomorrow, Jpow speaks on Friday may introduce additional volatility but we believe ROKU moves higher from here. Confirmation is Friday green daily heiken ashi candle..
$ROKU Possible pathWatching this model to see how ROKU will follow, seems plausible. No position yet
$ROKURoku has lost one-quarter of its value in less than a month. It cost $476 a share on July 19. Now it’s at $351. Even at that price, you’re paying 207x earnings, or 20x revenue.
Roku stock fell after earnings.
Operating income also fell from the previous quarter to $69 million.
Those numbers beat estimates, but user growth was seen as slow.
For many people who are invested in Roku it was just time to take profits.
Roku has 37% of the U.S. streaming market, but its global share is dropping.
Europe, Asia and South America are the new growth markets and Roku isn’t a player there (as of yet)
When we look at the technical side of things, Roku is still sitting in a nice uptrend.
We have a long term ascending triangle on the daily.
We’re sitting right at support which gives a nice RR ratio.
We have a double top on the daily.
MACD about to curl
RSI just coming out of oversold territory.
Keep this on your watchlist.
- Factor Four
Roku: Dead Cat Bounce? Roku bounced really well at the strong support zone and also changed the trend to bullish "U" on the daily and 4HR chart.Previous Resistance that turned into support $351 is crucial indicator of reversal. Making daily higher highs and higher lows gave it a confidence bounce upside. If it can hold at EMA 20 with volume, it can easily hit back to $360. Bullish trend on RSI as well. When it breaks, there will be a big opportunity. Selling pressure is slowing down and a trend change with the inverse hammer followed by a green candle. If it breaks the support of $340, its a dead cat bounce.
ROKU gaining momentumROKU had a strong day today, looking for continuation tomorrow. Morning star pattern is a reliable reversal pattern. If ROKU can break above $364.77 with momentum it's lights out. Let's see if the market can string together a few decent days.
Roku x Inverse H&S Simple Charts: Price Action & Candlestick Psychology
- We've seen 1 market cycle with ROKU, and now we should see another one as football season is approaching in September, more viewers will be watching TV and other entertainment as the fall approaches and the weather gets colder
- Huge Inverse H&S on the Daily Chart
Fundamentals have only increased year after year
- ROKU INC - ANNOUNCED ITS LINEAR LINEUP HAS EXPANDED TO MORE THAN 200 CHANNELS, WITH A TOTAL OF 17 ALL-NEW CHANNELS LAUNCHING THIS WEEK ON ROKU CHANNEL
Target
- $700 by the EoY
ROKU Back on watchI was stopped out of ROKU last week after it could not find a base. Price looking like it would like to bounce again. My bias is long but one could play it long or short on a break from the tan box. To the upside the targets would be last weeks high and then fibs if it continues. To the downside the green box would be the target zone. The tan box could be used as risk depending on size used.
ROKU Trend Reversal incomingTicker: ROKU
Notes: Roku has been trending in this downward channel and finally bounced off of this Daily demand and broke out of that downard trendline. We just need confirmation on this breakout and be patient with it. We don't want to catch a falling knife.
Key Level:
Crossover above 200SMA (362.64) could be a good reversal entry for a target of 370 then 385.
ROKUWatching ROKU here at this level, if it can close at or above 356 support it should test 366 soon
Bullish- Looking for a breakoutROKU looking very interesting here- Double top played out as expected, however, ROKU held the longer-term uptrend quite nicely- will be watching closely for a breakout here (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- Bullish
- Falling wedge (bullish) on shorter timeframes, Bollinger bands also squeezing (See Chart Below)
- Doji reversal right on the 200-day EMA
- RSI in oversold territory
- Buyer volume increasing relative to seller volume
- MACD cross looks to be imminent
PT1- $354.43
PT2- $357.50
PT3- $366.55
Roku: Trend Change LookoutRoku has touched the crucial $340 support zone and seeing a trend change to upside with an inverse hammer followed by a green candle. Selling pressure is slowing down as well. In technical short term, potential upside from $340 to $370/380. Also Roku has just rebounded above swap at $345.58. With a good momentum, could see a nice push upside rebound with RSI rebounded above 30.
Roku DailyMy last Roku analysis had a slight bounce (but yielded nearly 1k% w/ weeklies) but had no follow through and eventually died... given that tomorrow is monday (high chance of a pump) Roku is worth watching, especially w/ a massive falling wedge w/ RSI being oversold (level not seen since May) and it is sitting on a volume node. Gluck!
Roku Long Term Wave theoryA look at the macro level of ROKU and where it could be going in the Intermediate term
