top of page

ROKU Breaks Out With Authority

  • Writer: TLivingstonBlog
    TLivingstonBlog
  • Jul 23, 2021
  • 2 min read

As the trend towards streaming programming continues, I believe Roku has the potential to be a big-winning stock in 2021. After more than doubling last year, Roku has been building a very large base over the course of the first half of 2021. On July 23, I took a position in Roku as it began to emerge with skyscraper volume coming in. As I mentioned in a previous post, I was a little anxious about the market coming into this week, but strong moves in Shopify, Crocs, Nvidia, CRWD, INMD, and SNAP over the last few days gave me the conviction to add Roku to my portfolio.

As more and more people "cut the chord," Roku provides an excellent alternative for people who want to watch content from Peacock, Hulu, Netflix, HBO Max, and more. Fundamentally, Roku has produced three-consecutive quarters of triple-digit earnings and is estimated to have a monster 2022 with annual earnings projected to more than double.

From a technical perspective, Roku has a classic looking chart. I love the prolonged uptrend in 2020, which indicates strong institutional support. As Roku corrected to its' 40-week moving average this year, it consistently closed above this key support level which is something I always like to see. In addition, I really like the powerful rally in June followed by the low-volume pullback towards the 50-day line in early July. Friday's breakout on massive volume was the icing on the cake for this "delicious" looking chart.

Earnings are set to be released in early August. Let's hope the strong trend in Roku continues in the coming months.


To learn more about swing trading, the stock market, and cryptocurrency trading, visit my course page.



Full Disclosure: I currently own ROKU.


Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.

Commentaires


Les commentaires ont été désactivés.

Statement on Accessibility

We are working to make this website easier to access for people with disabilities, and will follow the Web Content Accessibility Guidelines 2.0. ​ If you need assistance with a particular page or document on our current site, please contact tlivingstonblog@gmail.com to request assistance.

Join My Mailing List

Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Crypto CFTC advisories

bottom of page