Roku, Inc.Long
ROKU Analysis
Falling Wedge + Demand Zone + Loss of Bearish Momentum + Divergence
ROKU is losing bearish momentum as we approach the bottom of the Falling Wedge inside the Demand Zone. The volume spike today is a sign we are near the bottom along with the Higher Low on the MACD Histogram with Slightly Bullish Divergence on the MACD and SMI. RSI is approaching Oversold but price action has not given us confirmation of a Bullish Reversal yet. We have 2 Small wick rejections of the Demand Zone but we need to break over 112.72 to confirm break of downtrend.
ROKU is losing bearish momentum as we approach the bottom of the Falling Wedge inside the Demand Zone. The volume spike today is a sign we are near the bottom along with the Higher Low on the MACD Histogram with Slightly Bullish Divergence on the MACD and SMI. RSI is approaching Oversold but price action has not given us confirmation of a Bullish Reversal yet. We have 2 Small wick rejections of the Demand Zone but we need to break over 112.72 to confirm break of downtrend.
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