ROKU Reversal!!You don't need to be a candlestick expert to know how to trade them. It doesn't matter if you know the difference between a doji and a spinning or a star and abandoned baby.
They all have one thing in common, the next candle needs to open clear above/below the prior. Over precision is not a traders friend.
ROKU +50% in ~45 days from this exact price twice before. Will it be three times before the end of the year??
ROKU trade ideas
$ROKU Roku Bullish Divergence
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Roku Swing 9-16-21Roku is being oversold as the rsi has dipped below 30 for the seccond time within the last month. The stock has recently crosses below the 200 ema, but is still above the 50. Roku hasn't been in a bearish trend since the start of the pandemic, and I don't see why that should start now. Eying roku 325c exp oct 22 with the intent of holding less then 1 week. I will keep a 10-15% stop loss and will roll the contracts if the turn around takes longer than expected.
$ROKU | WEEKLY WATCHLIST 9/13Needs to bounce in the $318-325 range or else ROKU could be in trouble. Extremely critical area for the stock with multiple support confluences (bullish trend line support + Fibonacci box retracement). Also important to note that the 200 Daily SMA is about to intersect with and test the 100 Daily SMA. (this isn't shown in my chart) If we see the 100 cross below the 200, this will be first hints of a major bearish trend taking place.
Weekly Watchlist 9/7 - 9/10Here is what stocks we are watching for this week!
NASDAQ:MRNA
Looking for a $420 breakout with targets of $425 and $430
NYSE:NIO
Nice bullflag showing here, looking for a break over $41 with targets of $42 and $43
NASDAQ:ROKU
Currently sitting a major trend resistance, we are looking for a move over $346 with targets of $348, $350 and $352
$ROKU bullish move is over and reversal formation is in place.I love to trade $ROKU. It was an awesome instrument for me to trade so far. Doing my weekly overview of the market and just saw that $ROKU just made it to my list of candidates to short. Double top, the stock is lacking momentum to go up, trend line breakdown with bearish candlestick formation right before that. I think that the bullish case for this stock is over. Long term I could see this sliding down 80% from its peak.
Roku on a kitkat break?So as we can tell that we are in the 5th wave as I also confirmed with the (MOM Divergences) and I am looking for an expected drop around (.236 to 0.382) but (0.382) more to my liking and yes you can say "Aren't (2nd waves) deep retracements?" Yes they can be but I am putting a conservative estimate on my goal post. I am also accounting in for Time frame based estimates with a (Trend based time frame tool). Again these are my opinions.
As always happy trading : )