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ROKU

ROKU May 16th, 2019 - Losing Steam ? This is currently how I believe ROKU is moving, following an elliott wave pattern but is currently stuck below the 0.786 fib(extension from start of wave 2 to end of wave 3, to bottom of wave 4.) If $86 is to be the peak, then this should be where wave 5 ends and we should be seeing a retracement in the near future. Eyeing ROKU for a while now, they seem to have been doing really well due to a recent strong earnings report. This past week, despite trade war news, ROKU itself has been struggling to choose a direction. We are currently sitting right below the 0.786 fib and have been struggling to close above it since May 9th. We did see a couple of fake breakouts but no severe break/drop - still waiting on a big volume breakout for either direction to get a more clear picture of where this stock is headed. Based on the 3HR, we see a bearish crossover on the MACD as well as a break below 70 on RSI. We also see that 9MA has a support at ~$81.82 so unless we can close below this, we will not be able to set a price target of $77.42(0.618 fib) anytime soon. The 4HR timeframe on ROKU has not had any clear indications that will help us to decide a direction either, but we should take notice of the current candlestick below $82.81, the 9MA. If we stay below this, should be a strong indication that we can close below the 9MA and aim to retest fib levels, or even the 26MA. STOCH RSI also crossed bearish once again so we should wait for a confirmation of a drop below 50 + RSI dropping below 70 to figure out if this stock has really become bearish or not. The 1D timeframe on ROKU shows that the current 9MA and 26MA are far below the current price, with 9MA at $74.46 and 26MA at $70.69. STOCH RSI has crossed bearish and broken below the 70 and we should be waiting to see if RSI breaks below 70. My position: ROKU $77 Puts for 5/24 - 7 contracts at $1.07 cost avg - $749 total , current price: $82.51 Notes: Currently down 29% (~$220) but I will be selling my contracts if by the end of this week, ROKU does not give a clearer indication of a possible downward move. If you have any questions, comments, or concerns, feel free to leave them in the comments below and I'll get back to you Rocky
NASDAQ:ROKUShort
by Rockys
ROKU over-Bought Short at 58 or 66 to be dropped to 38 ROKU achieved all goals of current uptrend . Now at 52 with target remain at 58 but may be extend up to 66-72 as top peak then start falling to the latest gap between 34-37.. the perfect chance is to get short positions when reached 58 or 66 . note the earning of current Q is on 21st Feb . expected to have strong growth but less or lower profit as company started shifting hardware business into other services business such as subscription and other online services. still ROKU have good future by expanding its business or by chance to be in form of acquisition with big firm but for now technically it reached overbought status on all levels we can see indicators such as RSI MFI and even stochastic are overbought and exhausted . its time to get back and confirm support on area above 38 . other trading scenario if earning beats estimation by big percentage then can take long positions targeting area between 66-72 but should be expired before mid of this year. (not recommended) i still prefer to get the right moment to short positions from the top or near by the peak top which shall be formed during next week ... good luck
NASDAQ:ROKUShort
by WinnerTrader99
1
ROKU Earnings Play: BullishROKU huge run up from its initial listing in September of 2017. ROKU only made slight profit posted in Feb last year (surprised analyst with 158.54%). The surprise didn't bring much love to the name until the $29.00 pivot. Strong weekly uptrend started back in December of 2018 remains intact so far. Previous weekly pivots where at 52.70 and 58.80 and ATH of 77.57. ROKU is tightly correlated with the QQQ's and likes to ride its tailwinds. Outlook going into earnings, Bullish IMO: Anticipation and pricing seems that we are going to be looking at a positive earnings report on 2/21. As we have seen good ERs don't always mean more upside action lately, so caution holding through that date is obvious. ROKU has some good tailwinds behind it as the QQQs and SPY remain strong unless the China deal falls through in the near term they should remain strong in the next few weeks. As shown on the 1HR chart ROKU has ran on the top channel of the Bollinger Bands since February last year and poked above a few times. Last week tightening Range on the 1HR, increasing volume into the close on 2/15, makes me feel bullish. Only flag is that the RSI is running a little hot on the 1HR and may slow things down a little into the open. Looking at the OPTIONS chain for Feb. 22nd expiry, the $55.00 strike price has the highest volume at 519 and Open interest at 1832. It appears to me that the masses are betting on the $55.00 and above strike into earnings, lots of premium burn would be to hold bellow that strike (Caution on the 2/22 expiry). On the positive side the 5, 8, and 13 MAs are all underneath including the middle BB for support and we have support (S1) at $51.54 as well. With one eye on the QQQ my play for this name would be to zoom in on the 5M watch for increasing volume at the open and once the algos work out the direction snatch some $55.00 strike 3/8 expiry Calls, especially if we back down to $51.65 price and bounce. At that point there will be some panicking and prices for the Calls should be low. If we break down further to $50.81 I will stop out, then if we go down any further I would be looking for a bounce play similar to described above. GLTA Full Disclosure: At the time of this writing I do not have a position in ROKU. This trade idea is for educational purposes only, I am not a financial advisor, do not follow me or anyone else for that matter blind into a trade. No one loves your money as much as you do, do your own due diligence and seek professional financial advice when necessary.
NASDAQ:ROKULong
by DannyJack
ROKU SHORT Madness MethodIndicators are conformation tools of price action. I like Volume, both Option & Stock Volume.. and technicals.. nothing fancy.. Simple supply and demand.. But the SETTINGS of the indicator of your liking will set you in the direction that should allow you time to execute a profitable trade.. Never rely on any indicator alone..only in tandem with your method.. So turn the news of and read the news so you do not get that bug in your telling you what to think.Read it in your voice.. It's important . Hope this sparks an idea to someone. Trade Safe
NASDAQ:ROKUShort
by Marcus2018
No Time for Comfort As Brakes Screech On the Oversold BounceAT40 = 35.5% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = 34.8% of stocks are trading above their respective 200DMAs VIX = 17.4 Short-term Trading Call: bullish Commentary Hold up. Pump the brakes. The bounce from oversold conditions just got more difficult as sellers forced buyers to come to a screeching halt. The S&P 500 (SPY) fell 0.9% in what looks like a “close enough” failure at downtrending 50-day moving average (DMA) resistance. In a bit of good news, the index also bounced picture-perfect style off its 200DMA support. I will call it a stalemate. {The S&P 500 (SPY) looks like it is caught in a trading range as buyers fail to punch through the previous peak or 50DMA resistance. The bounce from 200DMA support was a bit of good news.} The tech-laden NASDAQ and the Invesco QQQ Trust (QQQ) were not as fortunate as the S&P 500. Both lost 200DMA support with the NASDAQ gapping down for a 1.7% loss and QQQ slicing through support for its own 1.7% loss. Adding insult to injury, at their intraday lows, both indices reversed their post-election gains. {Momentum for the NASDAQ came to a screeching halt after gapping below 200DMA support. The Invesco QQQ Trust (QQQ) bounced from its low of the day, but the buying was not enough to recover 200DMA support.} The selling was not enough to rattle the volatility index, the VIX. The VIX only gained 3.8% and even fell sharply from its high of the day. The VIX still looks ready to continue its post oversold implosion. Accordingly, I bought a fresh tranche of put options on ProShares Ultra VIX Short-Term Futures (UVXY) with a 2-week expiration. {The volatility index, the VIX, gained for the second straight day but could not even manage a close above Wednesday's intraday high.} The currency markets showed some signs of stress in-line with a risk-off day. The Australian dollar (FXA) weakened and the Japanese yen (FXY). As a result, AUD/JPY suffered a notable pullback. I will not get concerned until/unless 200DMA support gives way. I used the pullback to build a slightly larger long position on AUD/JPY. {AUD/JPY pulled back on a risk-off day across financial markets. The pair is still holding onto a bullish 200DMA breakout.} A reversal like Friday’s makes bulls doubt their rationale for excitement just two days ago and gives bears reason for fresh skepticism. AT40 (T2108), the percentage of stocks trading above their respective 40DMAs, tells me to be cautious, but not to downgrade my short-term trading call of bullish. AT40 dropped back to 35.5% and is still in the early stages of a rebound from oversold conditions. AT200 (T2107), the percentage of stocks trading above their respective 40DMAs, only dropped to 34.8% from Wednesday’s peak of 37.4%. I am more inclined to think that the market will churn and digest gains from the rebound. I will reconsider the bearish case if the S&P 500 closes below its 200DMA support. I stuck to my post oversold strategy of buying the dips and bought SPY call options. I plan to sell these into the next bounce. However, my core position in iShares Russell 2000 ETF (IWM) call options experienced a big setback. With just a week to go before expiration, Friday’s 1.8% pullback was enough to wipe out most of the profits in those call options. I will now need to sell into the next bounce rather than wait for what I still think is an imminent retest of 50DMA resistance. {The iShares Russell 2000 ETF (IWM) lost 1.9% but bounced off its 20DMA support. }
SP:SPXLong
by drduru