ROKU trade ideas
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
ROKU Future OutlookNASDAQ:ROKU
This chart is indicative of neither upwards or downwards movement and is intended to represent visually that both events have a fair chance of developing in the near term future. Downwards trend prediction is something I myself struggle to see and have been working on improving my foresight in the hopes of producing more favorable results. Please feel free to comment and/or point out anything that could be done better or that you agree with even, much appreciated.
@nicksette1993
in the age of the blind, the one eyed man is king. roku formed a double top with heavy selling volume. Important angles were broken and a retest of lower support is expected.
in all honesty, i have never used roku. i only know it has something to do with streaming, maybe? no idea. this is purely a technical standpoint.
Roku pulling back on trend line%th of July
Roku reported earnings yesterday and plummet down to some technical levels. Roku is pulling back to previous nice support and still on a strong uptrend. Look at how it bounces on the support zone and also higher lows.
Keep watching for these two weeks for a rebound with volume momentum.
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)