Has ROKU bottomed out? Reversal into play?
TWO PIECES OF EVIDENCE:
1) PPS Action: Roku has been hitting lower highs. It wasn't until Friday, 1/17 where it could not break past it's last lower low of about 126.3 which happened on 1/13. On 1/17, it hit 128.58 before rebounding to 130.38 market hours. This indicates that Roku might next hit higher lows given lower highs? Actions like this could be signs of A BREAKOUT.
2) RSI bullish pattern: The PPS of stock hits lower lows, while the RSI hits higher highs. In this instance, Roku's RSI is increasing in an ABAB pattern while its PPS hits lower lows.
-Example of what Roku's RSI is doing:10 to 15 to 12 to 17. 15 is higher than 10. 12 is lower than 15 but higher than 10. 17 is higher than 15. This is a gradual increase ABAB pattern.
Disclaimer: I'm very new to analyzing stocks. But from what I can observe, this is WHAT HAS HAPPENED and I find it bullish on future price action from ROKU.
TWO PIECES OF EVIDENCE:
1) PPS Action: Roku has been hitting lower highs. It wasn't until Friday, 1/17 where it could not break past it's last lower low of about 126.3 which happened on 1/13. On 1/17, it hit 128.58 before rebounding to 130.38 market hours. This indicates that Roku might next hit higher lows given lower highs? Actions like this could be signs of A BREAKOUT.
2) RSI bullish pattern: The PPS of stock hits lower lows, while the RSI hits higher highs. In this instance, Roku's RSI is increasing in an ABAB pattern while its PPS hits lower lows.
-Example of what Roku's RSI is doing:10 to 15 to 12 to 17. 15 is higher than 10. 12 is lower than 15 but higher than 10. 17 is higher than 15. This is a gradual increase ABAB pattern.
Disclaimer: I'm very new to analyzing stocks. But from what I can observe, this is WHAT HAS HAPPENED and I find it bullish on future price action from ROKU.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.