*THIS IS TOP* *TIME TO SHORT*who tf buying roku at $300 it's not even as memey as zoom
REALITY CHECK
ROKU trade ideas
ROKU fundamental analysis - foundation to dateBasic chart analysis from Roku date open to public to day.
$ROKUElliot wave, currently in a wave 3 within a wave 5 of a primary 3 count. Once primary wave 3 is complete, looking for a wave 4 range $220-260 before moving higher to equal leg of primary wave 1 around $360. I’m experimenting with the trend based fib time tool with the expectation that wave 4 may end between late March to May 2021.
ROKU City - in 3D - partly sunny with scattered showersprice bounced back to the channel midline after a dip - awaiting more information.
Last EffortThis chart speaks the loudest and is the most clear for predicting the future of Rokus movement. Look at the last 5 candles. The candles body for candle 5 4 and 3 get smaller and smaller as it moves up. Then we have a bear candle for candle number 2. This candle triggered a sell signal on the daily. Sell signals do not appear on the daily candle often. Now, if you look at the last candle, todays candle, it has a really small body and a large bear wick. Based on this low hanging bear wick and a bear candle before it, we can expect the next candle to be a bear candle. Possibly larger than the previous. So based on this chart alone, this is why I have made my decision to continue holding my position.
Short a RokuWhat is a Roku? Some sort of feral animal that has gotten out of control.
I don't know about you, but that divergence in volume and accumulation/distribution sure looks like most people don't want to baghold Rokus and are releasing more of them back into the wild as their price goes up. The Danish government slaughtered millions of minks and minks are cool and have a clear purpose for warm coats. Rokus don't. Why have a Roku if you can have a Netflix and a Disney+ on your laptop?
Short the Rokus.
Long #Roku into 294.12Looking at a long into the 294.12 price resistance.
Upper trend line is current support above 273.48
If we drop off that support, id watch 255.11, or the top of the paralell channel outlined.
Id stop out below 255.11 and wait for a new entry on the bounce, or back down the the bottom of the paralell channel
new target for roku!Setting orders on long side for Roku
315 target for 11-dec (or before, but opening calls for this date)
SL on 280s as marked
Roku growth over last 18 months!Evening traders
Ive been using a follow trend based strategy for the last six months mainly for Forex trading.
This strategy script works with Forex pairs, indices, stocks and crypto.
It's not until recently I've discovered the potential for using this script on stocks for potentially building long term stock portfolios via following the trend based script. Another great example to my earlier Tesla idea and review is this Roku stock growth via following the the stock on the one week time frame.
As you will see the strategy presented a 'buy' signal in March 2019 and Roku stock has since gone on to grow by 300%
For any further information on the strategy I'm using please feel free to message me.
Triangle pattern Triangle pattern
I expect that price rise to 297
maybe there will be a pullback before rising
ROKU Revenue and price growth extrapolationA simple extrapolation of revenue and price growth sees ROKU shares exceeding $240 about a year from now.
ROKU Retrace downDivergence spotted on RSI indicator. Reversal signal #1.
Morning Star candlestick / inverted hammer at top of uptrend. Reversal signal #2
Overbought on RSI. Reversal signal #3.
I'd like to see how it reacts at the level below.
Daily Candlestick PredictionHere is my daily candlestick prediction for ROKU. Using the measuring tool, the bear wick is bigger than the bull wick and with previous charts supporting the stock to decline ( linked ) I am confident in this daily candle prediction.
$265 A Share Before ThanksgivingExpect ROKU to hit $265 a share before Thanksgiving since it has fallen below support on the 15min chart. Currently during the last hour of trading a new resistance will be tested but I believe it will fail and we are in the start of a bear cycle. I have it hitting $265 tomorrow and that is a conservative number. Could go lower, tomorrow I will decide if I sell out or hold another week. I would like to see it fall below support on a higher scale. This is a great start though and could continue for quite some time.
Comment your thoughts below, should I hold past Thanksgiving? Or should I take a small profit and run?
I respond to every users comment and love hearing from you guys so don't be shy.
Also smash the like button if you are a ROKU short.
$30 Correction PossibleA lot of popularity around ROKU, the stock has been on a bull run for quite some time. Having an RSI over 70 for such a long period of time, and sell signals are popping up like crazy. The last 45min segment of todays trading period can be the start of a correction. A downward bear crawl to $246 in a very short period of time. A $30 correction has happened in the past and can happen again. With growing bearish divergence and weakening buying strength, we can expect a correction to happen soon.
Comment your thoughts below if you are a ROKU bull or bear and what your prediction is. Would love to hear from all of you!
