ROKU printed textbook double top on daily chart over last 10 months. I am seeing about 10-20% upside from current levels to $365-$405 range before stock goes lower. Height of this double top ($170) suggests downside target of $130. Old ATH from last year around $167 can be visible on the chart and should act as a support for a bit before price eventually reaches $130. I tentatively have mid Feb of 2022 as time target for $170, but I’m not very confident about timing (purely using my AAPL downside timeline in my previous Apple stock analysis).
These are just TA, they spot patterns that were identified in the past and resolved in the similar fashion.
My guess that during last 10 months insiders/owners sold large portion of their shares (either to public, ETFs, funds), hence we witnessed huge volatility. (Would be nice if I had time to dig in and verify my assumption). There seems to be an increasing competition from other streaming services, as barriers to entry diminished. At this point it looks like content owners can either sell their products directly to consumers or have upper hand in negotiating/renegotiating contracts with streaming service providers.
These are just TA, they spot patterns that were identified in the past and resolved in the similar fashion.
My guess that during last 10 months insiders/owners sold large portion of their shares (either to public, ETFs, funds), hence we witnessed huge volatility. (Would be nice if I had time to dig in and verify my assumption). There seems to be an increasing competition from other streaming services, as barriers to entry diminished. At this point it looks like content owners can either sell their products directly to consumers or have upper hand in negotiating/renegotiating contracts with streaming service providers.
