ROKU has had one of the best rallies in the stock market this year so far. With amazing performance thanks to investors' interest in digital streaming services and many giants, like Apple and Disney, joining the streaming community this year. Year to date stock is 344.09% up and 233.18% of that is since January.
Recent sell off in the price of the stock this week comes from analysts changing opinion on the stock target price. Sell off on Monday came from the Morgan Stanley's downgrade of the stock to 'Underweight' and lowering price target to $110.
Five-star analyst Benjamin Swinburne tells investors that his downgrade wasn’t spurred by Roku’s growth prospects, which he remains bullish on, but rather the risks that he doesn’t believe are built into the current share price.
On Tuesday though the stock went up and almost started closing the gap after Needham analyst Laura Martin raised her price target to $200, citing this as a great opportunity to buy the gap.
On the technical side, we see price struggling slightly to reach all time highs again, and wave analysis showing the potential correction in process. Price today closed just before the gap and 200SMA on 1 hour.
A break is a buy signal, potential to close the gap is there but expecting the price to reverse and sell again.
With end of the year approaching, investors will be collecting money on their positions from January, this could cause additional selling pressure if buyers start to collect and close positions.
Good Luck!
Recent sell off in the price of the stock this week comes from analysts changing opinion on the stock target price. Sell off on Monday came from the Morgan Stanley's downgrade of the stock to 'Underweight' and lowering price target to $110.
Five-star analyst Benjamin Swinburne tells investors that his downgrade wasn’t spurred by Roku’s growth prospects, which he remains bullish on, but rather the risks that he doesn’t believe are built into the current share price.
On Tuesday though the stock went up and almost started closing the gap after Needham analyst Laura Martin raised her price target to $200, citing this as a great opportunity to buy the gap.
On the technical side, we see price struggling slightly to reach all time highs again, and wave analysis showing the potential correction in process. Price today closed just before the gap and 200SMA on 1 hour.
A break is a buy signal, potential to close the gap is there but expecting the price to reverse and sell again.
With end of the year approaching, investors will be collecting money on their positions from January, this could cause additional selling pressure if buyers start to collect and close positions.
Good Luck!
Not
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.