Short ROKU @ 62.00 Fractal BreakoutAlligator's mouth is closed on the daily and price is close to the Balance Line on the weekly.
Price is below both Balance Lines.
This does not look like a setup appealing to Bulls (if you see any bullish pattern please let me know). If the 62 weekly fractal is broken, there should be little resistance to the downside.
Stop loss as always is a close above the daily Balance Line.
We'll ride the wave (if there is one) as long as it last, so target will be (as always) also a close above the daily Balance Line.
Cheers.
ROKU trade ideas
QuickTrade n. 57 : ROKUPossible bearish flag on the go
On the Long side I look for this positive Price Action to continue, with a possible bulllish cross of the 21h or 50h.
At least I expect a test of those EMAs on the slow 250h.
On the short side, I expect another test of the previous lows given the current market weakness.
ROKU - BEARISH SCENARIOAlthough the recent announcement that Cathie Wood's Ark Innovation has made a big purchase of Roku and the upgrade rating to Hold, in a short term it is more likely the downtrend to continue.
The price is heading for a re-test of the $ 59 support level.
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ROKU, a descending triangle for breakout, LONGNASDAQ:ROKU
As seen on the daily chart, ROKU is in a brief uptrend within a descending triangle. Oscillating indicators show the MACD with
the K and D lines crossing underneath the histogram and the RSI candles big and bullish with rising strength towards crossing through
the Ichimoku cloud. I see this as price action consolidating towards a breakout with 30-40% upside in the intermediate term.
Accordingly, a decent long swing setup or a call options contract. Cathie Wood seems to agree.
ROKU WOLFE WAVE SETUP OVER THE WEEKENDThere is a wolfe wave setup on the 78 min time frame (ah=on) . The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line. This is represented as the green perforated line, as shown in the chart. The projected target is approx 75 which is expected to reach this price target before Sept 16. Projected targets are defined by identifying the apex of the wolfe wave and projecting a vertical line toward the green perforated projection tgt which is extending from left to right. Using the customizable gap finder indicator there are sets of gaps along the way toward up to 80.
ROKU quick retest of recent lows, then $150+ROKU has been trading in a range for few months now. It recently made new low around $62. I’m expecting stock to retest that low in the next 2 days-2 weeks.
It’s possible stock could drop off, but I am seeing good risk/reward buy around $58-$65 range with an expectation of counter trend move all the way to $150-$180 range. If happens, it will be very sharp move.
If price closes below $52, this move becomes obsolete and instead more downside to come.
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 - 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.
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.
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 .