Time to turn off RokuAll good things must come to an end, and I believe the time for Roku's run has come to one. I am notoriously bad at calling tops, so don't trade this.
ROKU trade ideas
$ROKU stopped t 330Need to close above 309. Long term though I think this is 400$+ stock. 330, 339, 350. Won't be surprised to see 350 by Jan 20.
Bull FlagKnown as a momentum stock, Roku is in a long term uptrend at this point with a hammer on monthly
(LE) = Long entry
Ooverbought territory with RSI set at 70
I keep RSI at 80 and 20 so not qite overbought if RSI is set to 80. Some folks wait for a stock to be overbought on daily, weekly and monthly timeframes. I start watching very, very closely at 80 on the daily time frame
Known to be volatile, but nothing in life worth having is easy, is it? LOL
Just an observation
Target 1: Size of the Flag
The first target of a confirmed Flag pattern can be derived using the measured move technique. The measured move target is a distance equal to the size of the flag. To measure the size of the flag, you would just take the vertical distance between the upper and the lower channel within the flag.
Then you would apply this distance starting from the breakout point. Your first target is located at the end of this distance.
Target 2: Size of the Pole
The next target of the Flag formation equals the size of the Flag Pole. So, to get this target 2, you need to measure the vertical distance between the high and the low of the Pole. Once you get that distance, you will need to apply it to the pattern. Again, as we did with Target 1, you would apply it starting from the breakout point.
*THIS IS TOP* *TIME TO SHORT*who tf buying roku at $300 it's not even as memey as zoom
REALITY CHECK
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.
