Will ROKU reverse?
Updated
Despite positive earnings ROKU stock price suffered. With a recent rejection at the top of the channel ROKU could use the bottom of the channel as support. $271 is an important support level, a price bounce off the support level would act as a potential entry. ROKU is just above 30 on the RSI. Indicators shows a slowing in the bearish momentum yet it is not bullish.
Bounce off $271:
Entry: $276
Price Target: $285
Falls through $271:
Entry: $266
Price Target: $251
There is small gap that has yet to be filled. If the price bounces that gap could act as the next support level
Bounce off $271:
Entry: $276
Price Target: $285
Falls through $271:
Entry: $266
Price Target: $251
There is small gap that has yet to be filled. If the price bounces that gap could act as the next support level
Note
PERFECT BOUNCE!Note
ROKU might be looking for support at $221
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