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Short Signal: Roku Flashes Topping Tail Alert

Published 08/13/2019, 02:41 PM
ROKU
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Shares of Roku (NASDAQ:ROKU) likely put in a major pivot top on Tuesday. After a three-bar surge on the daily chart, the stock humped again but is now putting in a possible topping tail. Topping tails are epic reversal signals, especially on charts in extreme overbought territory like ROKU. In addition, upside moves usually end on three-bar surges. A pull back is likely in store to a target price of $115. This trade setup is pure technical analysis. This means there is finally a reason to short ROKU that has teeth.

Roku

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