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Roku Is Streaming Lower: Watch This Support

Published 03/15/2018, 01:27 PM

Roku (NASDAQ:ROKU) is a leader in streaming entertainment devices for televisions. The company came public in October 2017, so there is not a lot of historical chart data at this time. Traders should note that the stock peaked out on December 19, 2017 at $58.80 a share. Since that high pivot in the stock, the shares have tumbled lower and are now trading around $36 a share.

Roku Support

The stock's next important support level is around $30 a share. That's where it had a major gap window dating back to November 9 and 10, 2017. This area is the next level where the stock has a shot at being defended by the institutional crowd. I will be looking to take a stab at the stock on the long side via call options around this important support level.
Roku

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