ROKU trade ideas
ROKU to $370?!ROKU is absolutely killing it, I posted a chart yesterday saying how it could go as high as 370, target is the yellow horizontal line.
It looks very possible now with the breakout of a wedge on the daily chart.
200 EMA held as support for a bit and now it finally broke up and through the 50 EMA (green line) and out of the wedge, so I am VERY bullish on ROKU still.
Roku Bearish Count PossibleWe could definitely see under $230 with Roku.
That's like an all-in type price for me.
If the bottom of wave 4 is in then this count is invalid. Just wanted to show the possiblility
$ROKU Shakeout Plus 3? ( Double Bottom)$ROKU Looks to have a "Shakeout Plus 3" or Double Bottom Set-up here. I've done the calculations for an entry according to shake-out plus 3 rules. However, I also like to see it clear a resistance area which I think makes for a better trade. This will be on my top watch list for next week. Ideas, not investing / trading advice.
A word of caution, this chart pattern could also be drawn as a Bear Flag pattern. One of the reasons I want to get over that resistance area.
Roku Falling wedge? Posted an earlier chart of a possible long term downtrend (See link) .
This is another scenario where we she a short term drop back to 270-260 area then a move and Breakout.
Roku back to 200 got rejected at channel top / 339 fib resistance.
Showing a bear flag (White lines).
RSI already Curving over on daily.
A look a ove 339 negates this setup.
ROKU Make it Or Break ItWhat appears to be higher lows and higher highs on Roku could be breaking out of this bearish downtrend from recent highs with the Tech sell off. Will We continue to follow this trend, we will reject here and end up at the 255-240 levels. But if ROKU can break out of this trend will will likely see 370 and 390 again soon. ROKU did have their "ROKU Originals" debuting new shows and movies May 20 and plans to add more in 2021.
NOT FINANCIAL ADVICE, JUST TECHNICAL ANALYSIS AND THEORY.
Leave your thoughts in the comments
ROKU still bearish to 240...Yes... I know... ROKU has been running this week but guess what, it is still in the massive downward channel!
ROKU bounced heavy off the long term trendline support and is now at a very interesting spot...which happens to be the downward trendline resistance!
This will be a great short opportunity into tomorrow if ROKU rejects resistance at ~338 (.5 fib)
My downside targets will be:
PT1: 304.34
PT2: 282.94
PT3: 241.03 (on break of long term trendline support)
In the unlikely event that I am wrong and ROKU continues its bullish run and breaks resistance...
Upside targets will be:
PT1: 352.58
PT2: 373.80
PT3: 400 (Psychological resistance)
Happy trading!
$ROKU Trade Idea$ROKU Trade Idea
Entry: 336
Strike: 5/28 350c
Targets: 345, 351, 356
Support: 328, 317, 308, 300
@TradingView @KyleTrades86
$ROKU Upside PotentialRoku shares fell to an important fibonacci level recently and have bounced off strong. Earnings killed expectations and the company still has room to grow. I think the most likely outcome here would be a surge to around $390 before a pullback to complete a reverse H&S pattern. Good Luck!
$ROKU Trade Idea$ROKU Trade Idea
Entry: 328
Strike: 5/21 340c
Target: 336, 345, 350
Support: 317, 308, 300, 294
$ROKU By request (Butterfly Pattern) w weekly IB @sigmaclass had a question about @ $ROKU, here is a harmonic Butterfly i found, weekly inside bar at trigger level w triangle consolidation, great set up but you really want to try to catch trigger at 1.272.
If this fails your Bat pattern is valid, lmk if you have any questions.
Roku shares forecast for 2021Walt Disney and Netflix became the leading companies in online broadcasting during the pandemic. But Roku, which makes streaming devices, had its best stock gain in the past year, which was more than 450%. And the company is just beginning to expand the scope of its services. According to management, in 2020, Roku OS was the best smart TV operating system in the US, accounting for 38% of smart TVs sold. Despite the high sales of the devices, Roku actually gets a lot of revenue from advertising sales. Advertisers are increasingly abandoning traditional TV channels and moving to streaming platforms that offer more accurate ad targeting, and Roku is preparing to take the maximum share of these sales.
From a technical point of view, Roku's share price rose from $58 to $485 a share last year. Now we are seeing a correction, but the company's quotes were not allowed to fall below the $322 level. It is worth noting that the values of the RSI indicator fell below the level of 30 for the first time in a year, this indicates that the shares are oversold and another wave of growth may soon follow, as it was in March 2020. A strong signal for buyers will be a breakdown of the $377 level, such a price movement will indicate the end of the downward correction and the resumption of the bullish trend with the first target at $485.
ROKU Short to 240?Bounced hard twice off off the trendline support but got rejected hard by weekly supply... had another short term bounce but couldn't hold over 315 for long
I think we see ROKU finally break this trendline within the next week or two.
I will be looking for a confirmed break of 283 support to start my short positions.
I have a monthly PT of 239.15 which is daily demand (I expect a big bounce in this zone)
I would consider taking 5/30 270p or 6/18 250p just to give the play time if it breaks the support levels!
Happy trading!
Bullish on ROKU(This is not financial advice)
Hey everyone, play on ROKU here good dip buy and money should start moving back into Tech soon. Coming out of a descending triangle I expect it to bounce along the next fib line and then push to the next line fib line.
- Vlaire
ROKU HEDGE POST EARNINGSTGIF for AAPL for onboarding was under selling pressure for May 10,2021. As a result, the LONG CALL positions 131C are under some pressure and require a hedge in case the market collapses. So we picked up ROKU 275p weeklies at 0.86 slightly less than 15% of the initial position size. Generally, when the markets are trending higher, a hedge is not usually required but due to seasonality and apparent weakness in NQ it is best to place this hedge in case the market begins to sell off for the entire week. Risk and reward is shown in the chart from the purple darvas channel and the earning gap fill remains open 284.89. Break below 272.41 opens the door down to 250 very fast and weekly hedge may cover the tgif aapl 131C.
