Massive 1 year inverted diagonal Head & Shoulders on Roku

Roku is a buy in the blue zone (112 - 118). Ideal price is 116.

- That represents the 618 retracement from its most recent trough and peak.
- It's also where the 50 day moving average falls (118)
- And where the most significant short term structure is.

And here is Roku inverted on a longer term basis... Sometimes seeing charts upside down show things more clearly.

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Entry 1 @116 hit.
Entry 2 @ 112 pending

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Power bounce off the key spot. Let's see where it goes.

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ROKU is getting closer to 139 where I see it going next. That level will be the ultimate test. The ideal scenario is it gets acquired by Google or Disney and doesn't have to deal with it as a barrier ;)

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Major breakout today. Broke through 139 and now hovering in the high 140s. This is a buy on retests if lucky enough. Ideally, this happens next week which would be a textbook retest.

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I will be adding to my position in the blue zone:

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142 handle hit today. Added

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I am still very long on Roku as it continues to maintain its strength above the high 140/low 150 zone.

I think we are coming close to another lift off. I added to the position again by going long the August 7 180 calls yesterday (very high risk), which I will add to on any weakness today.

As for risk... a close below 150 would get me to trim short term longs. Long term my projection has only strengthened - I see this stock trading well above 180 this year.

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We've gotten the lift off needed right off the trend line and we are approaching resistance. In my opinion this resistance won't put up much of a fight.

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I was wrong that the key resistance at 157 wouldn't put up much of a fight. It clearly has. But my view on the stock has not changed as it's proving to be highly supported in the 140s. This is one of the few stocks I remain long in right now.

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Breakout on minor pattern:

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Still supported by the same pennant post earnings. That's what we want to see. Still long.

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Breaking down. I took profit

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nice r/r for a long here. Prefer options at this level

Lanmar

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Lanmar