ROKU is waiting for you, but it won't wait long. It looks like it's putting in a bottom, and may even be ready for mark up after 12 months of accumulation around the $60 level.
From its all time high to what's shaping up to be cyclical lows, we have a range with its first quarter retracement around the $150 level. Extrapolating one step further, a 50% retracement from the cyclical lows to the $150 level is around $100, which is a logical place for price to mark up, if it does leave the accumulation range and accelerate updwards in the near term. I believe that will be the kind of move that doesn't offer many, if any, retests of the accumulation range, once there is a meaningful sign of strength from current juncture.
Another way to think of it is bullish so long as it continues to close above ~66 (first quarter retracement of the range within the range), and probably not a bad idea to add on strength when it prints a new intrayearly high for the push up to $100 and $150 thereafter.
From its all time high to what's shaping up to be cyclical lows, we have a range with its first quarter retracement around the $150 level. Extrapolating one step further, a 50% retracement from the cyclical lows to the $150 level is around $100, which is a logical place for price to mark up, if it does leave the accumulation range and accelerate updwards in the near term. I believe that will be the kind of move that doesn't offer many, if any, retests of the accumulation range, once there is a meaningful sign of strength from current juncture.
Another way to think of it is bullish so long as it continues to close above ~66 (first quarter retracement of the range within the range), and probably not a bad idea to add on strength when it prints a new intrayearly high for the push up to $100 and $150 thereafter.