ROKU bull wedge, target 380-400earnings coming up early november. we have seen this wedge before. beware possible triple top - I wouldnt get greedy here. while it looks like a 450-480 could happen, i'd do some trimming at 380-400.
ROKU trade ideas
ROKU - on the recoveryROKU had a bullish divergence on the weekly 2 weeks ago with a bullish pin bar weekly candle.
Since then the daily has been steadily trending with large daily up candles followed by a few days of tight consolidation and then another large daily up candle (higher highs and higher lows).
I initiated a long today with a tight initial stop loss a couple of $ below today's candle low @ 320.80. Looking to scale out on the way up with trailing stops. Price targets given are just suggestions for short term traders as the stock might consolidate along these levels.
p/s watch out for earnings on 10th November. Take profit prior if uncomfortable to hold through earnings.
Disclaimer: TA is about improving our odds of a successful trade (not a guarantee). This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade
Roku 10/18 Analysis ROKU: Weekly Contracting Triangle Forming In Wave 4.
Long Term - Watch For A Move Up, Rejection, Retrace, Bottom Out!
Weekly & Daily TF Looking Bullish, While Smaller TF's Leaning Bearish. Potential Short Term Retracement Towards 320 After Its Recent 40 Point Rally Over Last Week & Half. Hidden Weekly Bullish Divergence On RSI.
Weekly Target For Wave 5 Could Rally Us Towards 600+ PT - Keep ROKU On HIGH Alert Over The Next Couple Months!
$ROKU just hit 3rd leg of Shark patternJust dumped to the 1.13 exactly on the C point of a potential Shark. PT is the .886 or 1.13 from here.
ROKU - Breakout Bull flag ROKU -Broke the bull flag. **
Current price is at huge volume shelf. ***
Very bullish with revers head and shoulder pattern. ****
ROKU double top. >>365-405 >>170ROKU printed textbook double top on daily chart over last 10 months. I am seeing about 10-20% upside from current levels to $365-$405 range before stock goes lower. Height of this double top ($170) suggests downside target of $130. Old ATH from last year around $167 can be visible on the chart and should act as a support for a bit before price eventually reaches $130. I tentatively have mid Feb of 2022 as time target for $170, but I’m not very confident about timing (purely using my AAPL downside timeline in my previous Apple stock analysis).
These are just TA, they spot patterns that were identified in the past and resolved in the similar fashion.
My guess that during last 10 months insiders/owners sold large portion of their shares (either to public, ETFs, funds), hence we witnessed huge volatility. (Would be nice if I had time to dig in and verify my assumption). There seems to be an increasing competition from other streaming services, as barriers to entry diminished. At this point it looks like content owners can either sell their products directly to consumers or have upper hand in negotiating/renegotiating contracts with streaming service providers.
Update - Falling WedgeJust posting a quick update as ROKU is still looking very interesting here- Double top played out as expected- 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 )
- RSI in oversold territory
- MACD cross looks to be imminent
- With buyer volume should really pop
PT1- $328.71
PT2- $330.58
PT3- $339.90 + Breakout
ROKU ROKU ROKUROKU hit it's target, I can see it retract/retouch resistance to 314-318 area, should stay above 10EMA, then bounce up to 334-340 area.
Falling below 10EMA, this play is invalid.
$ROKU Bullish Shark into Bearish 5-0 PT $392Bounced right off the .886 forming the Bullish Shark. Fib 50% retrace would take PT to $392.
ROKUIF QQQ can comply and move forward higher ROKU can explode
Even with weakness though i believe the main leaders in tech currently would be ROKU / NFLX ..
NFLX does have upcoming ER so this could be reason as to why it's strong going into the new month while QQQ has been shaky and moving towards the downside. Expect ROKU and NFLX to continue with great strength and surprise.
IF Roku gets above 340 this opens the door to 370-420 range.
Monthly iTM calls could pay NICELY if we catch some steam on this one
LIS 316
$ROKU Looking TastyHolding good support at Demand zone with a nice green candle today. Run up to earnings and historically they beat.
I think this runs to first target AVWAP and volume shelf $360 zone. Watching for a close confirmation above 21 EMA before entering.
For an option trade with less risk, an idea would be to sell the .34 Delta 12/17 300P and buy the 295P (or 300/295P spread) for credit of $1.95 , max loss $305 .
ROKU - FOLLOW THE PARABOLIC ARCAll,
Pretty bullish on ROKU here. Only question right now is that if SPY holds since it had a tear back up from 420s. However, this looks like its ready to go might retrace some here so mayh want to wait for a better entry. Just watch closely. I think as long as market doesn't cause a crash in big stocks like ROKU we see 440s and probably 480s. IF THIS BREAKS THE PARABLOIC ARC... the right side it will fall and I would take a PUT or short position
$ROKU Plan for this week solid orange are intraday actionable plays
dotted are take profit targets
Harmonic pts are for longer dated positions
strategy for ROKU MONDAY 10/04/2021(ROKU buy price 316.00)
(ROKU sell price 306.00)
strategy: entry above the buy price. Possible gap retest, this we must take entry in the zone of the mv 9 or 10 period in graph of 5mn. It also has a double inside bar.
bearish entry: has divergence between the chart 5mn bullish 15mn bearish. If the opening is bearish, we only enter lower when the stock has penetrated the buy, sell price and double bottom zone. wait for confirmation.
Khan's Chart-Requests 18 - $ROKUChannel-Bottom with solid Support - don't get greedy but with enough Volume i see a nice push
ROKU great R:RROKU
Working on a breakout right now
$340 will be a very strong resistance but also a break could send it to $350 quickly
ROKU - TRADE SETUPI like this break of support there. There is nothing stopping this from going to the next level of support which the is monthly 20EMA.
$ROKU Downtrend Breakout Retest$ROKU Broke out of a two-month downtrend last week and appears to be holding the downtrend line as support today. High probability of a bounce from here. Average analyst price target on this stock right now is $475, I don't see it going lower from this $310-$320 support area.
Near term target: $370 by mid-October
$480 possible by early November depending on overall market conditions. Stop loss just below $310.
I am long Oct 15th $350 calls for $3.00
Note: This is NOT investment advice. Educational only.
ROKU - Channel, EW Count, and TriangleNeeds to trade back up into this Ascending triangle soon or it will become invalid. A break below the middle channel line most likely completes the double top around .62 fib level. Overall we see ROKU as a safe investment long term and I like having some exposure here at these levels initiating a 1/5 position.
$ROKUShares of Roku dropped as much as 4.8% lower on Friday, hamstrung by a bearish note from Wells Fargo analyst Steven Cahall.
The pessimistic call on the media-streaming technology stock counterbalanced an upgrade that drove Roku shares higher yesterday.
Cahall downgraded Roku from overweight to equal weight, meaning that the analyst now believes that Roku shares don't provide an exceptional investment opportunity anymore. He also lowered the price target on the stock from $450 to $388 per share. That's still 16% above Roku's closing price on Thursday, but the Wells Fargo analyst sees better ideas elsewhere because this stock looks "fully valued" at current prices.
In my personal opinions I’m fairly flat on Roku.
I’m not bullish but I’m also not bearish.
On the technicals you can see price has broken out of its falling wedge on the daily and looks tempted to run.
With the MACD curling
& the RSI recently coming out of oversold territory.
I suggest keeping this on your watchlist.
- Factor Four
