If ROKU can break and hold above the pivotal $40 mark, it could start a breakout and test $50. ROKU has been consolidating for some time now, and with technical indicators pointing up, if ROKU can break the current downtrend resistance line I will be buying $45 strike calls and looking for a push to test $50 in the coming weeks.
Commentaire:
ROKU has been very volatile in the past month, but has gained nicely since this post ($37). I still think there is more room for ROKU to run, but with a weak SPY the risk/reward is not there for me anymore. I closed my long position at $44.57, but will continue to keep a close eye on ROKU.