ROKU touched the trend line with decent volume. I entered taking a risky trade -- buying the pre-break out.
Long term uptrend, medium term neutral, short term uptrend.
Price target $50.33 for the .718 fib retrace if breakout. Risky risky trade ~
ROKU - Guys I know i have previously looked at ROKU Bearish, and previously, My bearish analysis was almost perfect, HOWEVER, I am looking at this Bullish now LONGTERM, 2 reasons... Netflix doesn't have ad revenue, Roku does, and I am simply looking at this as an opportunity for a potential future buy-out to increase market share. Reasons I think of Netflix in...
When playing with a small, cash secured account, buying power effect can limit one's ability to trade since even something as basic as the 30-delta 27 short put in ROKU in the June cycle pictured here can tie up quite a bit of buying power.
The June 15th 27 short put brings in a nice 1.27/contract in credit, but comes with a cash secured price tag of the strike...
Roku had an insane path up to its all-time high. I knew of the product and its popularity and had set a PT of $35 for when it made its first post-IPO earnings call. Once it started rocketing up, I hit it and closed out my position. I'm sure others were as stunned as I was to watch it continue to climb and I'm sure Anthony Wood didn't know what to think once he was...
You all know I am Bearish on this stock. With This very obvious triple top over the last 3 weeks, my target on this is 30.22 over the next 3-6 months. Missed the entry on the breakdown of the triple top... but there are still great opportunities to short this crap haha
Haters are saying that ROKU will correct itself to an avg price of 38 dollars or so. It closed at 47 dollars today. If my chart is correct, maybe it will keep going.
$BYOC released an unaudited 8-k yesterday in the first of filings to be dropped similar to $ATPT
It is anticipated that the move up past the .03 break will be greater than any and all moves it has made so far once the filings have posted as institutional buying pressure will begin to pour into the stock as many and much greater updates will be released...
ROKU will behave very much like SNAP and continue lower. If you only have a few products and one-and-all basically do the same thing, the growth of this company is very limited. The true value of this product is anywhere between $6-8. I will be buying put Options on this bad boy! This double top, and lower high is a great signal to fall lower and weakening in price.
