ROKU- Bearish Divergence gives guidance LONGROKU sold off after okay not great earnings- obviously a large number of market participants
took their money off the table and moved it elsewhere. There was a typical or excessive price
run-up in the pre-earnings period. This chart set in a 15-minute time frame as well as 15
minute time frame on the RSI laid onto the main chart shows bullish divergence which
otherwise might be subtle. It is the key to the trade entry. It is saying get on the train before
it leaves the station. Chasing the train is a futile endeavor fraught with failure and
frustration. ( Yes, the hot tip is boldfaced for emphasis) Price is sideways at this time. The
relative volume indicator shows a huge 4X surge in volumes at the consolidated bottom verifying
it as such. This is Wychoff's theory in action for sure.
I am now part of that volume. I am an avid bottom buyer like many others. I take great
pains to analyse for the bottom, unlike some others who run on gut or sentiment.
I hope you find this analysis helpful. If you do, please give me a thumbs up. Once you have,
feel free to ask as to the specifics of my trading plan now implimented.
