February 16 – March 29, 2021: this is the duration of the violent decline suffered by ROKU. In this period the company lost nearly 40% with the price hitting a high $ 486 and a low of 293 just in late March.
For those unfamiliar with ROKU: is a brand of hardware digital media players manufactured by American company Roku, Inc. They offer access to streaming media content from various online services. The first Roku model, developed in collaboration with Netflix, was introduced in May 2008. (from Wikipedia).
Roku has 43 million active users and is present not only in America but also in Canada, England, Mexico, and Brazil.
Technically it is considered the best “streaming operating system”.
Last year it acquired Dataxu, a company specializing in marketing.
Last but not least, ARK ETFs has invested $ 750 millions in Roku and considers it an asset to keep in their portfolio for the future.
Technically, the 40% reversal was a blessing, after the 600% (no joke) growth the company had from March 2020 to March 2021.
I entered the first positive candle after the break of the bearish trendline, on the day of April 6th, unfortunately, the candle was very extended, followed by another 3 days not very volatile.
We hope for a more favorable second half of April, to keep an eye on the volumes, which so far have been good but not excellent.
The targets of the analysts have varied, with a range that goes from 400 to 650 (!!!) dollars.
The sentiment is definitely bullish, but as usual, we try to be as realistic as possible and base ourselves on the volumetric analysis (which I remind you will be exclusive of the private group arriving on the Discord platform):
We are already on a volumetric resistance zone, beyond which we could have the following scenario:
1st target: in the area of $ 425
2nd target: 475
3rd target: 500
Psychologically $ 500 will be a very important line to cross. Although obviously, I hope it will do so as soon as possible, I believe that the most ambitious target, where I will most likely close the position, will be in the $ 475 area.
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