About 6 weeks ago I posted analysis expecting ROKU to retest July’s lows, which it did. Back then was hoping retest would be quick and followed by a bear market rally.
I have since changed my view on the rally, instead I am seeing more downside. Main reason being that retest wasn’t quick and stock keep sinking (sign of weakness), and overall equity market conditions aren’t looking favorable with higher rates and lower liquidity from the FED.
Hard to say how low price will drop, but $27 minimum target seems like logical place for now - 2019 lows.
I have since changed my view on the rally, instead I am seeing more downside. Main reason being that retest wasn’t quick and stock keep sinking (sign of weakness), and overall equity market conditions aren’t looking favorable with higher rates and lower liquidity from the FED.
Hard to say how low price will drop, but $27 minimum target seems like logical place for now - 2019 lows.
