ROKU trade ideas
ROKU gameplanThinking to take Roku Short. We sold off pretty hard cause of earning and created a $20 gap which. we filled on Thursday. Volume has been decreasing all this time. Will watch premarket but if we look week will take short for scaling out at my Demand zones
ROKU: Bears still in control!!Roku
Short Term - We look to Sell at 77.50 (stop at 91.34)
Our outlook is bearish. Broken out of the wedge to the downside. There is scope for mild buying at the open but gains should be limited. Reverse trend line resistance comes in at 77.50. Preferred trade is to sell into rallies.
Our profit targets will be 41.57 and 30.00
Resistance: 80.00 / 110.00 / 140.00
Support: 55.00 / 40.00 / 20.00
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The SpringROKU has been undergoing a complex accumulation phase for the last 3 months. This chart shows the boundaries that have formed, and it can be broken down further into 5 zones of alternating 3-point moves (e.g. relative low, relative high, relative low).
Volume has decreased, volatility has decreased indicating accumulation. Also the DMI is characteristic of accumulation. This gap down on earnings will be the spring, it will get bought up fast.
Next to come will be the sign of strength, then backup/retest, and finally markup.
The green path is illustrative but the expectation is that it will be trading in the 90-110 range by end of August. Markup will take it to 130-180 by end of year and that will begin the next bullish cycle toward new all time highs in the years to come.
ROKU - double top reached!ROKU formed a double top in 2021, citing first price target of $140, but breaking through this, then has reached its final target in after hours trading. Chart speaks for itself....
$ROKU Earnings Report$ROKU destroyed in AH Trading after Earnings Report
Hight Likely to visit POC Volume profile at $40
ROKU options ahead of earningsIf you haven`t sold the double top on ROKU:
Looking at the ROKU options chain today, i would buy the $65 puts with
2022-7-29 expiration date for about
$0.32 premium.
Looking forward to read your opinion about it.
ROKU - Time To AccumulateROKU has been a bit difficult with so much chop but now it appears that was a domed bottom and with a sharp impuslive candle on the 6th follwed by a shallow retracement and now an engulfing, it looks ready to higher and to have a good bounce.
RSI starting to look bullish making its way into the upper quadrant.
It may of course rock back depending on NDX but I'm buying this area.
Looking at the weekly also plenty of bullish divergence.
I think that considering ROKU topped months before NDX and lost 85% it is due a hard bounce.
0.5 is a minimum I think but most likely it will go higher and top somewhere within the retracement shakeout reversal zone.
There is resistance in that area so my guess is it will top somewhere around there at $272
Not advice.
Roku - Looking to back-fill this zone and then turn back upMicro pull-back to short term trend support risking beyond the trend support (failure of idea). 1:2 Risk:Reward play. Will use the Ladder to trail stops if trade begins to move in the Thesis's direction
RectangleLarger type is Possible T1 and smaller type is T2 if T1 is passed.
This is a possible rectangle bottom is the rectangle breaks to the upside.
A rectangle is a horizontal trading channel and is neutral until a trendline is broken with a confirmed trend in that direction.
No recommendation.
The gator is tangled s8uggesting a move one way or the other.
Could be nothing.Patterns look very similar to each other. If this current one plays out the same I will be buying at support down there. Come on Cathie, ur gonna let these shorts win?
ROKU LONG CALL TARGETING 136 STOP AT 84 NOW AT 97.84Bullish breakout with volume shall be a good buy signal however market still bearish and caution is required. so as of now its long call play but with high protection using long put or short to cover . the gate is to close above 110 then target will be 136 then if market is good enough , may we see new bull wave with target near by by 225. also possible scenario to pullback on Monday or Tuesday to confirm second shoulder above 84 which should be good entry too. stoploss for call at 84 .
Price Doubling Markup BrewingMajor major accumulation here. Can see in the DMI and stochastic, as well as the chart.
Activation of markup is above 98. My initial target is the 111-127 range by July 11-15th. If it makes it above 133 I expect it to continue to as high as 177 by August (post-earnings).
Goal Target by July 25th is 152-157. The yellow, orange, red zones are profit taking area - not financial advice but I like the July and August calls from 95-110, take some off in yellow, more off in orange, more in red zones. It will likely need to consolidate or pullback before attempting to break 133.
Look to Roku's past for evidence it has major runs in it, my belief is that the time for the next major run is about to begin.
We will we will ROKURoku
Short Term
We look to Sell at 98.40 (stop at 107.29)
Preferred trade is to sell into rallies. Bespoke resistance is located at 98.40. Posted a Bearish Outside candle on the Daily chart. This is negative for sentiment and the downtrend has potential to return.
Our profit targets will be 73.29 and 61.10
Resistance: 100.00 / 140.00 / 178.00
Support: 86.00 / 73.00 / 50.00
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ROKU Bullish price targets inbound $ROKU
If we hold above 99-100 range we should see 110 then hit some resistance around 116-117. If we break, we'll see 130s and 140s very soon.
NEWS: Partner with WMT and potentially being bought by Netflix. More fuel to this setup.
NFA
Bullish divergence on ROKUROKU become "brokeu" after dropping 80% in 1 year. Now, some bullish divergence is beginning to form, which is pretty common in a Wave 4 pattern. Roku CAN and probably does make one lower low, but slowly accumulating and buying around $70 does make sense....and maybe even dollars. ;-)
Supplement to “Springish” ideaAt smaller time frame I’m observing an expanded flat with B 1.618 extension of A, and C 1.618 retracement of B.
This increases probability of seeing follow through off the bigger picture spring in the accumulation phase going into an expected sign of strength. My last idea, linked, goes into more detail about that but in summary here are my near-term expectations:
- continuation up to 111
- pullback from 111 to around 100
- if bounces at 100, begin markup to 140 initial target
Springish Obvious and typical *Drunk Spider Web* pattern unfolding.
DMI indicates we just saw the spring of a wyckoff accumulation phase - still needs to complete sign of strength and backup/retest before markup.
Within this zone can also see a triangle that broke out, then retested support. However, ROKU has quite a web of resistance - could swing long near term calls around 100 strike and hedge 3:1 (perhaps Jul 8 100c, Jul 1 85p)
Confirmation for big long would need to see a run from here to around 111, then test of around 100 and bounce from there. If that plays out I’d become very bullish with initial target 140. Not Financial Advice.
$ROKU short term bounce?$ROKU suffered a lot in the past few months after missing earnings and continues downtrend in the overall market. on this bearish market, its really hard to predict movement for bullish move. per #strat technical perspective; $ROKU is starting to gain more momentum after last week's slow and small rally.
Despite the small rally from last week, the seller ratio still ratio is still higher than the buy volume.
Below is my buy and sell target for ROKU
For scalp or day trade moves.
For calls; buy above $85 and sell at 86.04 or above
For puts, buy below 80.30 and sell at 79.28 or below
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Welcome to this free technical analysis . ( mostly momentum play )
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ROKU Wolfe Wave Daily SetupOn June 15, Roku triggered a BUY entry using the wolfe wave daily setup. This wolfe wave setup has two major moving averages that are potential targets 21 day ma and 50 day ma. In addition, ROKU is squeezing on the daily time frame. So if the markets open Tuesday green, then ROKU has a shot of moving approx 11%. If the squeeze triggers long and the momentum picks up such that the momentum histogram bars cross up and above the zero line the the momentum should stick with ROKU and achieve the wolfe wave tgt of 116 before Aug 9.
$ROKU ~ Correction looks almost complete...Beautiful Elliot wave structure as shown. Correction should be complete soon but need to wait until overall market turns around. Will continue to monitor and may present great opportunity in the near future.
