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Roku Inc (ROKU) “On a long-term technical basis, the stock (ROKU) is trading above its 200-day moving average which implies it is in a positive trend. However, the stock has recently broken through an important trendline at 149.75 suggesting the next support level is at 131.22. This weakness suggests the long-term trend is turning neutral.
The stock has support at 131.22 and 116.26. If the stock breaks down through support at 131.22 then it will probably continue lower to 116.26. The stock will meet resistance at 139.59 and 149.75. If the stock breaks up through resistance at 139.59 then it will probably continue higher to 149.75. The 200-day moving average is at 103.18. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (78.34), so look for a possible pullback soon. Confirm this with the Short-Term and Daily Opinion to keep from exiting prematurely.”
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