ROKU looks weak at 353.00Roku looks pretty weak, and I wouldn't be surprised to see it climb up to 353 only to take another downturn. The extending purple fib line is my trigger that the down move is finished.
ROKU trade ideas
Weekly Watchlist 9/7 - 9/10Here is what stocks we are watching for this week!
NASDAQ:MRNA
Looking for a $420 breakout with targets of $425 and $430
NYSE:NIO
Nice bullflag showing here, looking for a break over $41 with targets of $42 and $43
NASDAQ:ROKU
Currently sitting a major trend resistance, we are looking for a move over $346 with targets of $348, $350 and $352
$ROKU bullish move is over and reversal formation is in place.I love to trade $ROKU. It was an awesome instrument for me to trade so far. Doing my weekly overview of the market and just saw that $ROKU just made it to my list of candidates to short. Double top, the stock is lacking momentum to go up, trend line breakdown with bearish candlestick formation right before that. I think that the bullish case for this stock is over. Long term I could see this sliding down 80% from its peak.
Roku on a kitkat break?So as we can tell that we are in the 5th wave as I also confirmed with the (MOM Divergences) and I am looking for an expected drop around (.236 to 0.382) but (0.382) more to my liking and yes you can say "Aren't (2nd waves) deep retracements?" Yes they can be but I am putting a conservative estimate on my goal post. I am also accounting in for Time frame based estimates with a (Trend based time frame tool). Again these are my opinions.
As always happy trading : )
ROKU weeklyNeed trendline support to hold or this could see a major flush very fast. At these levels Low risk / high reward. If trendline support holds and ROKU rallies it could see 390 again quickly.
If trendline support breaks I would exit as top is likely already in.
ROKU bull count on 2 hrThis is a wave theory bull count on the 2 hr. ROKU looking to catch trendline support and bottom for a wave 2. Positive sign here is the bullish divergence and we bounced hard off weekly trendline support on Friday.
Negatives: gapped below POC and volume shelf resistance.
$ROKU - Holding at major trend line, MACD cross over - 400 ?$ROKU - Holding at major trend line, MACD cross over, watch if bounce, expecting 400 next week
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 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.
