ROKU has been a bit difficult with so much chop but now it appears that was a domed bottom and with a sharp impuslive candle on the 6th follwed by a shallow retracement and now an engulfing, it looks ready to higher and to have a good bounce.
RSI starting to look bullish making its way into the upper quadrant.
It may of course rock back depending on NDX but I'm buying this area.
Looking at the weekly also plenty of bullish divergence.
I think that considering ROKU topped months before NDX and lost 85% it is due a hard bounce.
0.5 is a minimum I think but most likely it will go higher and top somewhere within the retracement shakeout reversal zone.
There is resistance in that area so my guess is it will top somewhere around there at $272
Not advice.
RSI starting to look bullish making its way into the upper quadrant.
It may of course rock back depending on NDX but I'm buying this area.
Looking at the weekly also plenty of bullish divergence.
I think that considering ROKU topped months before NDX and lost 85% it is due a hard bounce.
0.5 is a minimum I think but most likely it will go higher and top somewhere within the retracement shakeout reversal zone.
There is resistance in that area so my guess is it will top somewhere around there at $272
Not advice.
Note
ROKU looks to be forming a contracting pattern. Expecting break up soon.Note
NDX is obviously topping short term here so ive taken some small profit.
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Your FA guru can't read a chart💭
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I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
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