ROKU trade ideas
ROKU Potential Bull Flag PatternThe renewed fears of Covid-19 are supporting one of the streaming leaders Roku (NASDAQ: ROKU) again, which keeps the new bases for the second-quarter earnings' expectations remain strong.
The stock is showing strength recently after violating the downward sloping trendline. The prices are currently attempting to confirm the formation of a potential bull flag pattern.
We're looking for the breaking out of this flag after a strong bounce from the 100 Fibonacci retracement level, So prices could target $433.70 - $460.30 levels before hitting the bullish pattern's target - if confirmed - at $530.
Roku very bullish cup and handle!Hi Traders!
It looks like our favourite streaming company $ROKU is forming a cup and handle pattern. Price has formed a handle by the means of a small downward movement. If price breaks the upper trend line of the handle, the cup and handle pattern is confirmed.
On top of that other technicals tell us:
- Price is supported by 50MA support.
- Ichimoku, the cloud of the current downward trend is very thin which indicates that the current small downward movement is very weak. Also, the price is fairly distanced above the cloud which is bullish.
- RSI is 47, this level has worked as support in the past lets see if this happens again!
- ADX on the hourly shows us that the short term downward trend is already weakening.
Also don´t forget that the chance of fundamentals bringing bullish momentum and sentiment on the stock is also very high with upcoming Q2 Earnings report. Both investors and analysist expect company growth! And with the delta covid variant concerning investors again, ROKU is a safe-haven for investors, as ROKU profited from the previous lockdowns.
Our trade plan:
Wait for price to break the upper trend line of the handle and enter at 418USD, and hold for at least 2 months first price target at 480USD an TP2 at 525USD. Stop loss at 398 just below the psychological level of 400USD and below the upper trend line, this would make this thesis invalid.
Disclaimer: This is not financial advice and for education all purposes only.
Bearish on Roku < $397.00Bearish on Roku if it breaks below $397.00 - it could drop as low as $375 next week. Watch to see if buyers step in and it bounces back to 400+
If not; which I think is unlikely due to all of the selling today, and it breaks below $397 - swinging puts could possibly be a good trade.
I'm kinda curious myself to see how the market looks going into close today, if we close down then I think Monday will be bearish.
[MS] Elliot Wave combined with [MS] Divergence+ I was given early access to @marketscripters Elliot Wave script. I am already a big fan of Divergence+ and with the Elliot Wave combined, catching a trade opportunity is effortless.
I'll let the chart speak for itself & remember to press play tomorrow night :)
ROKU back at 20 MABack down to 20 MA. This range happens to be gap down range feb 23rd….. see I f it holds here and confirm flag breakout. Watching for kow
ROKU longROKU PT 500 coming .. I believe it has a huge breakout to the upside under way!
Above ATH buy 500 C .
Wouldn't be a bad idea even to buy ITm calls for 3 weeks out and see what dough that gets ya $$.
ROKU - Bearish $ROKU - Appears to be in the ABC corrective wave after it completed a 5 wave sequence back in Feb 21 to 486. Roku has completed AB of the corrective wave and is now in C wave down which would be a 5 wave down towards 326 and possibly lower towards bottom of Wave A (272).
Play the curve down on the weekly and use white lines as areas to trim out of your position. Will need longer dated puts (3 months minimum/I prefer 6 months - and at the money strike imo)
#Investing #Options #Stockstowatch $Roku
ROKU - Longs? Cup and HandleROKU is looking nice.
Cup and Handle formation (not yet confirmed)
Momentum / RSI Divergence
1st potential entry on 8th July Candle - (618 retrace)
Wait for a breakout of the descending channel with volume to go long
$ROKU Trading PlanAs long as 431.69 holds as support, I am targeting 449.08/462.99. For longs, I'd like to see a close above box on weekly. A breakout over 462.99 would validate the cup and handle. My next targets would be $478.08/$504.17/$538.96/$562.16. If unable to hold the box and support at 431.69, I am looking for an entry back into box and retests at $417.19. $405.15 is an important level to watch. If broken, bears should take control and drive price down to 382.40. Box is broken to downside if 365.05 cannot be held.
$roku top watch after amzn cup and handle at all cup and handle set up ready to explode of 434 target 450 than 500
$ROKU Forming a Cup with Handle?Looks like $ROKU is pulling back into a classic Cup with Handle (CHW) Formation. To be a true CWH it must pullback or sideways without advancing for a minimum of 5 days. Today is day 4. The significance of the handle is that it "shakes out" weak hands so those left are mostly buyers which will allow the stock to advance again. I have this on my watch list and I'll be looking for this pullback to continue. Once it starts moving up from the short term down trend I'll look for a logical entry to go long. All TBD. Ideas, not investing / trading advice.
ROKU (update every week)Go to the support, is necessary a bounce there, if not, the will drop below $300, so be careful! ⚠️
ROKU easy short. HEAD AND SHOULDERVolume might have proved it, ROKU might find itself in the ending phase of a head and shoulders.
Price target is 390
Roku setup for gap fill at 455Interesting risk and reward for both long puts and calls. Roku closed slightly under the 6 day ma. A break below the 8 day ma opens the door down to the 21 day ma which is approx. 10% drop; however, if ROKU closes above the 6 day ma then there is a gap at 454 which is approx. 10% move higher. Although there is no squeeze setup on the 78 min time frame, there is a setup on the 39 min with yellow D breakout levels. We have monthlies for this particular setup and remain extremely bullish. Losing for ROKU to take out 52 wk. high and run toward the 500 psych tgt.
$roku on high watch for next behemoth break out similar cup and handle as seen on amzn all time high possible hug move to upside targeting 475 and break
