After falling 64% from its highs over the last 5 months, Roku appears to be heading into solid support. We appear to be at the bottom of a Falling Wedge (bullish)... The tip of the wedge lands in a Supply Zone... We have bullish divergence on the daily chart... and we have multi-level Seller Exhaustion. On the down side, we still appear to have heavy resistance and negative pressure to work through. We could see a small bounce here, but I think it's likely that price still has a little more to drop. I think this is a good place to start averaging into a long position.
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These are my personal views and not financial advice. Please do your own research before investing.
I'd love to hear your thoughts, ideas and feedback. Feel free to Comment and I'll try and get back to you quickly.
If you appreciated this analysis, consider Liking or Following. Thanks!
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