ROKU Reversal or Pullback 10+ Points

22 feb 2020

ROKU

ROKU closed at or near support coinciding with prior reversals/pullbacks. Currently ROKU is on a 5 day steep sell off. The drawn vertical lines show that ROKU reversed on or around the RSI level of 39.35 which is the level it is at currently on now. Volume is has been decending since the major sell-off that started on 2/14 which shows that there may not be enough pressure pushing the stock further down.

ROKU may still sell of a couple of points before reversing.

Things to look out for:
Macro events and a possible continue sell off on the S&P 500
Reaction to the 200 MA that it will need to cross on the daily to go make the 10+point move