ROKU Trend Reversal incomingTicker: ROKU
Notes: Roku has been trending in this downward channel and finally bounced off of this Daily demand and broke out of that downard trendline. We just need confirmation on this breakout and be patient with it. We don't want to catch a falling knife.
Key Level:
Crossover above 200SMA (362.64) could be a good reversal entry for a target of 370 then 385.
ROKU
Roku: Trend Change LookoutRoku has touched the crucial $340 support zone and seeing a trend change to upside with an inverse hammer followed by a green candle. Selling pressure is slowing down as well. In technical short term, potential upside from $340 to $370/380. Also Roku has just rebounded above swap at $345.58. With a good momentum, could see a nice push upside rebound with RSI rebounded above 30.
ROKU Cup & Handle - Is Now The Time?I'm expecting bullish momentum this week.
Pros:
- Potential bounce off the 200MA
- Great ER
- Bullish Divergence forming on the hourly chart
Cons:
- Potential "Double Top" pattern
- Strong Bearish Weekly and Monthly candles
- Handle is extending more than 50% of the cup. This may break your rule regarding this pattern.
A bullish bounce, if strong enough, could carry ROKU to $400 within 2 weeks. I'm swinging $400 8/27 Calls. I entered on 8/13 at 3:59pm lol
$AFRM $ROKU $AAPL $MSFT I OptionsSwing WatchlistAFRM 1D I AFRM broke out from a downtrend, we are seeing an inverse H&S. After holding the breakout, and earnings on 09/09, we are expecting a run up.
ROKU 4H I ROKU has been sliding and has lost 25%+ of its value in less than 20 trading days. RSI might show a slight bullish divergence, watching for a reversal.
AAPL 1D I AAPL average price target is $165. After reporting earnings AAPL has been consolidating in a triangle. Waiting for a breakout favoring the upside.
MSFT 1D I MSFT successfully held the breakout from the channel, and is now pushing higher outside our ascending triangle. Average price target is $320.
ROKUOn 2/22-2-23 ROKU sold off from 483 to 381, and was able to bounce 30 points.
11/9, ROKU gapped down 8.6% and was able to bounce 4% at open that day.
5/7/20 ROKU gapped down 8.9% next day after earnings and was able to bounce 6% that day.
ROKU is at 384 (-8.6%) AH. If roku can hold above 380, it's possible to see buyers step in at open today.
If ROKU can't hold 380, it can sell off to 362.
Trade Idea: 8/6 400C (higher risk trade/quicker trade)
Earnings Week (08/02-08/06): Move Predictions, IV CrushBelow I've posted a compiled spreadsheet (Google Drive spreadsheet), outlining a large portion of upcoming earning releases for the week of August 2 through August 6, 2021. Options market overestimation percentages, predicted/actual earnings release moves, and average implied volatility (IV) numbers have all been sourced from Market Chameleon ( marketchameleon.com ).
Google Drive spreadsheet public link: docs.google.com
If and where I've posted quarterly analyst revision numbers, that data has been sourced from Seeking Alpha ( seekingalpha.com ). PLEASE take any analyst "recommendations" with a literal kilogram of salt, as any/all critical thinkers have noted a tendency toward foul play with "analyst" target numbers and recommendations (hint, they do not have YOUR best interests in mind).
Current prices are obviously as of market close, Friday, 07/30/2021. The most important data provided lie in the first five columns immediately proceeding "Current Price."
This spreadsheet provides a readily accessible, macro view of potential earnings plays for the week. I often use this overview to aid with decisions to either buy or write put/call spreads, credit/debit iron condors, or more standard long plays with protective puts, dependent upon overall market volatility (VIX), and equity-specific IV.
Please post any comments/questions/concerns, and best of luck this busy week traders.
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