0KXI trade ideas
ROKU - EW analysis - correction and new high ROKU - It is in strong uptrend and the current cycle may finish soon. But the next correction will be good buying option. If down cycle confirmed in smaller time frame, then the short sell trade also can be taken with small risk.
Give thumbs up if you really like the trade idea.
ROKU new ATH? 375 coming Roku is near closing deals to acquire Quibis Library, This news will easily push Roku to new ATH... currently in a nice falling wedge, watching for breakout and hold above 342.88, look for entry near 342 to retest that "breakout line" over that I'm seeing 375. levels annotated on the chart
Dunno??Possible ARC pattern
If it is, most parabolic arcs return to 50 to 62% of prior rise in correction mode. These are long term patterns but just keep your eyes open is all. I do not like this term as sometimes the stock continues up anyway..for a while...especially in this market~!
38% 248.45
50% 210.85
62% 174.20
79% 123.54
89% = 93.02 or even 100% is possible
Parabolic Arc patterns are generally rare but they are reliable and are generated in mega bull trends. These patterns trend gradually making higher highs and lower lows in the beginning stages but can be volatile in the exhaustion and reversal stages.
This is a daily chart, but it is easier for me to see the arc pattern on weekly. The orange is the 50 day MA and the red is the 200 MA
Just an observation
Other POSSIBLE ARCs I have noticed include SE, PTON, PLUG, DNLI, BILI, FIVN, SHOP, MGNI, OSTK, REGI, PINS, BEEM, GRVY, CRWD, BILI, ENPH, FVRR, MELI, and keeping my eye on TSLA, AMD and NVDA. OUCH! But even if these are ARCs, it does not mean there is not further upside as the ARC is a long term pattern.
👀🚨SUNDAY WATCHLIST 12/27/20🚨👀ROKU - This one has just been on a continued rip since its HBO deal and has been great for scalps, day trades, & even swing trades with many more opportunities to play. Keep an eye on this very strong channel and play it accordingly. If it continues to hold, take calls off the bounce if it breaks take puts if it confirms outside. Just be careful of fake outs. This is up a lot but has great potential in either direction if you are patient and wait for solid signals.
ROKU_TearSurprised by ROKU, a streaming device crushing during COVID, its earnings seem to have a low-bar to jump, making it an interesting stock to put on your list...Not sure about ROKU sales? BUT it has been crushing since after it destroyed its most recent earnings...Maybe a good risk-off strategy; YET, currently, it is crazy expensive and could not be based on intrinsic value with AMZN GOOG and AAPL being in the streaming device space.