ROKU - waiting for the breakA number of small stocks have been rising of late and some have started to break out of their bases.
ROKU has been forming a Base since late last year and began to cross above it's 200 day moving average steadily since 2nd June.
It is now trading right at a basing neckline @ 75 and a break up is probably only a matter of time now.
Whether the break will come 1) in the very near future or 2) at least one more pullback from here (up to 50% of it's recent AB upswing) before a successful breakup remains to be seen.
Volume is still light at the moment (except for a strong day on 7th June) hence the odds could favour scenario 2 at the moment. Ideally, I would prefer to see stronger than average volume for at least a week (or longer) rising into a breakup.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
