ROKU almost time for me to flip long if $260 holdI have posted a short trading idea of ROKU a few days ago. Already took profit and flipped long at closing. $270c for next two weeks looks like a good risk reward, but always prefer to grab at least 4 weeks to avoid decay, long stock is less stressful for many as well.
ROKU trade ideas
strategy for ROKU THURSDAY 11/11/2021ROKU: buy price (276.00)
ROKU: price (271.00)
strategy: our bullish entry must be above the buy possible gap and go price, if so we will take profits in the supply zone 285.0 or 284.00.
our bearish entry: here we must pay close attention, since the price is in a demand zone, although it does not break the zone, it should not be anticipated. this type of gap is the one that pulls back until the gap is closed
ROKU Daily Wolfe Wave Setup There is a wolfe wave setup on the Daily time frame in ROKU. 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 315 and then 330 gap fill . The price is expected to reach these targets within 14 days. There are several gaps above near 330 and 415. The yellow wolfe wave pattern uses a different length input value and identifies additional upside price tgt up to 415. There is a gap that is still open, it may or may not fill and just remain open into 2022. However, if the gap below 267 and the daily wolfe waves continue to display the present target prices, then the probability of success that both wolfe waves are correct become more likely to develop into a successful trade with excellent risk and reward.
ROKU LongDemand -- not fresh
It might be double top.
Entry 277
Stop 267
Target 347
*** Not sure why the Risk/Reward Ratio tool could not be displayed in this chart.
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
Roku Earnings PlayDescription:
Earnings after close on Wednesday, taking advantage of high IV on same week options and covering with next week's (Calendar Spread).
From Deltaone on Twitter: twitter.com
76% expect beat
9.5% move priced in
7.7% avg move post earnings in recent quarters
Long Call Calendar Spread
Levels on Chart
Break-evens
344.96, +12.89%
275.74, -9.77%
Downside also protected by support established in DEC of 20.
R/R: ~5:1
Positive R/R, stop loss levels built into position.
Intend to close before near term expiration.
*Stops based off underlying stock price, not mark to market loss
The Trade
BUY
11/12 307.5C
SELL
11/05 307.5C
Only invest what you are willing to lose
Break-evens and R/R vary on fill
ROKU could find support around $260I think $ROKU could find support around $260, but would not rule out a long term target of $100 if things get ugly. So far printed almost a perfect text book gravestone doji if it wasn't for the afternoon bounce but still I'm not convinced that a sustainable bounce is coming. MACD on the 4D and 3D chart looks divergent still and that gap is pretty telling. I see Gaps as bookmarks that the algos leave to revisit later, but does not mean all gaps end up filling it is just that this one is pretty close of the price/vol action. Playing 2-3 weeks ahead 270 puts not bad risk/reward imo. Let's find out tomorrow and next week.
Rectangle/ Earnings today!Roku is close to the bottom trendline of the rectangle which is support. If trendline broken it becomes resistance. If lower trendline is broken with a downtrend, targets could be to the downside.
Wide channel/204.63/and earnings are today after market close. Weekly low is 280 so price has pierced bottom trendline.
If I were o go long I would place my stop under 272 which is not ultra close by. If I were to go short, I would place a stop above the bottom trendline after price has broken it with a downtrend.
Since I am unsure, I will do nothing (o:
Bearish divergence a while back which has corrected by this point in time.
No recommendation
WATCHING $ROKU for 247.97 - Key Levels and Analysis WATCHING $ROKU for 247.97 - Key Levels and Analysis
So this is a little bit of a longer view… Looking for 248 level to start a position.
Earning’s on Nov. 3rd so I’ll look at it again after that… GL.
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I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can.
Have fun, y’all!!
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Falling Wedge On dailyRoku has been in a rough bear market for the past 3 months, however as we can see there was a quick breakout of the yellow line and now retest after touching the red. We could see it continue down through the support and further down (supported by the massive weekly double top from months ago) past that, or a bounce off the yellow line and breakout above to restart the bull run.