Roku Leading The Market Again

Independent Trader • Oct 16, 2019 at 6:00 AM EDT

In September ROKU had a hard pullback to the 30-week moving average losing over 40% of value in just a few weeks.

ROKU has been one of the biggest winning stocks of 2019 after completing a Stage 2 breakout back in May.

In September ROKU had a hard pullback to the 30-week moving average losing over 40% of value in just a few weeks.

This pullback was not limited to ROKU however, as many leading stocks with significant gains got hit hard during an overall market pullback.

After holding support at the 30-week MA for a couple of weeks ROKU broke out again on over 2x average volume last week to resume it’s Stage 2 uptrend. With the market once again potentially setup to move to new highs, ROKU is poised to be a true market leader.

Disclosure:

I am long ROKU.

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