Roku (ROKU) Weekly Chart Grid – annotations by askSlim.com
Please note: ROKU reports earnings after-hours on 2/13/2020.
At askSlim.com we use technical analysis to evaluate price charts of stocks, futures, and ETF’s. We use a combination of cycle, trend and momentum chart studies, on multiple timeframes, to present a “sum of the evidence” directional outlook in time and price.
askSlim.com Technical Briefing: The weekly cycle analysis suggests that the stock is in a declining phase and due to form an intermediate-term low in the month of February. Weekly momentum is negative.
On the upside, there is an intermediate-term resistance zone from 150.32 – 158.47. On the downside, there is an intermediate-term support zone from 125.11 – 113.22. For the bears to regain control of the intermediate-term, we would likely need to see a weekly close below 98.08.
askSlim.com Sum of the Evidence: ROKU is due to form an intermediate-term low. The longer-term cycle configuration in the stock is neutral. Given this analysis, there is a likelihood that the stock will test the intermediate-term resistance zone beginning at 150.32 by May of this year.
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