September 18 Chart of the Day - Roku

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews

Roku (ROKU) produces streaming players and smart TVs, licenses its technology to other manufacturers, and distributes streaming services. The company has been making headlines this week as their share price is up 11% following multiple analyst upgrades so we wanted to review their chart from a price action technical analysis perspective.

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Monthly Chart 

On the monthly chart we can see that after setting its $490.76 all time high (ATH) back in 2021 price fell dramatically over the next few years all the way down to the $50 about a year ago.

Since then price has bounced slightly and slowly up to the $100 area before fading back down again.

Weekly Chart

On the weekly charts we can see with much more clarity the fall from ATHs, and the  slow bounce back up.  The bulls seemingly have been attempting to make a series of higher highs and higher lows.

Trading around $76.90 earlier today price may be attempting to establish its next higher high but if it does price will need to break out and above some potential overhead resistance.

Only time will tell for sure what price will do next...

We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans. 

So what's next?