$ROKU In A Very Interesting Spot

17 thg 1, 2020

Roku has been making lower highs for the past 130 days (since 9th sept) and is now nearing the trendline that has held its bull run for over a year. It's nearing a major decision point that could drastically alter its trajectory for the near future - either by forming new highs and reigniting bullish momentum or by breaking the trendline and crashing to below $100. One area to be aware of is near $120, which is where price made a higher low and pumped 40% thereafter. Thus, though a trendline break would affirm my bearish bias, I would hold out on shorting and wait for any bounces that may come from price touching that region and short those instead.