Roku fell after its earnings report and updated guidance. Despite reporting EPS that beat expectations by 27.14%, Roku lowered its revenue guidance to $4.55 billion, down from the previous estimate of $4.61 billion. However, the sharp decline in price may present a buying opportunity for a medium-term swing trade.
Roku’s EPS is expected to turn positive in the third quarter, supported by increasing revenue in each quarter. The 12-month analyst consensus price target is $83.76, which is approximately 38% above the current price.
From a technical perspective, an ascending triangle formation appears to be developing at the bottom. While ascending triangles are typically continuation patterns, and rarely form at bottoms, it is still a positive sign for Roku. The lower line of the channel, which is near the 52 level and aligned with key horizontal support, can be viewed as solid support. As long as this support holds, an upward move toward the 200-day SMA and then to the 82.50 level is possible.
Roku’s EPS is expected to turn positive in the third quarter, supported by increasing revenue in each quarter. The 12-month analyst consensus price target is $83.76, which is approximately 38% above the current price.
From a technical perspective, an ascending triangle formation appears to be developing at the bottom. While ascending triangles are typically continuation patterns, and rarely form at bottoms, it is still a positive sign for Roku. The lower line of the channel, which is near the 52 level and aligned with key horizontal support, can be viewed as solid support. As long as this support holds, an upward move toward the 200-day SMA and then to the 82.50 level is possible.
交易進行
Roku is now trading at $71.90, having risen nearly 20% in just one week — almost triple the return of the Nasdaq over the same period. Roku has now reached the 200-day simple moving average, which serves as the first key resistance level. It remains to be seen whether the current positive momentum will be strong enough for a clean breakout or not.
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