Despite positive earnings ROKU stock price suffered. With a recent rejection at the top of the channel ROKU could use the bottom of the channel as support. $271 is an important support level, a price bounce off the support level would act as a potential entry. ROKU is just above 30 on the RSI. Indicators shows a slowing in the bearish momentum yet it is not bullish.
Bounce off $271:
Entry: $276
Price Target: $285
Falls through $271:
Entry: $266
Price Target: $251
There is small gap that has yet to be filled. If the price bounces that gap could act as the next support level
Bounce off $271:
Entry: $276
Price Target: $285
Falls through $271:
Entry: $266
Price Target: $251
There is small gap that has yet to be filled. If the price bounces that gap could act as the next support level
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PERFECT BOUNCE!
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ROKU might be looking for support at $221