Roku, Inc.Short
ROKU - Double Top into Bearish Sequence
Roku price has created what looks to be a Double Top Pattern!
Price unable to create a Higher High, then broke down below the Low (Point A) signaling a strong Bearish trend!
I suspect Price to retrace to the Fib'd Range @ 76.37 - 81.24 to then be rejected down to Sequence Target @ 58.1 - 49.2!
-This Price Action would also outline a Head & Shoulders Pattern.
As for Indicators, Price Action has moved beneath a curling 200 EMA along with my Dynamic Support & Resistance strengthening my Bearish Bias.
Fundamentally, job layoffs have been a big talk for tech companies.
tradingview.com/news/DJN_SN20230929007169:0/
Price unable to create a Higher High, then broke down below the Low (Point A) signaling a strong Bearish trend!
I suspect Price to retrace to the Fib'd Range @ 76.37 - 81.24 to then be rejected down to Sequence Target @ 58.1 - 49.2!
-This Price Action would also outline a Head & Shoulders Pattern.
As for Indicators, Price Action has moved beneath a curling 200 EMA along with my Dynamic Support & Resistance strengthening my Bearish Bias.
Fundamentally, job layoffs have been a big talk for tech companies.
tradingview.com/news/DJN_SN20230929007169:0/
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
"An investment in knowledge will pay the best interest." - B. Franklin
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.