Lot of longs getting burned on this name.
Breaking below key daily support, bulls need to defend quick or could get ugly.
Currently looking for a higher low above 116.26 as that's our closest daily support. ROKU has been a notable laggard vs the market lately and as you can see, when SPY sells ROKU gets taken down easily. Bulls make the case that no news is good news but as we've seen, no news means this thing just gets taken advantage of.
Breaking below key daily support, bulls need to defend quick or could get ugly.
Currently looking for a higher low above 116.26 as that's our closest daily support. ROKU has been a notable laggard vs the market lately and as you can see, when SPY sells ROKU gets taken down easily. Bulls make the case that no news is good news but as we've seen, no news means this thing just gets taken advantage of.