Roku, Inc.
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$ROKU Forming a Cup with Handle?

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Looks like ROKU is pulling back into a classic Cup with Handle (CHW) Formation. To be a true CWH it must pullback or sideways without advancing for a minimum of 5 days. Today is day 4. The significance of the handle is that it "shakes out" weak hands so those left are mostly buyers which will allow the stock to advance again. I have this on my watch list and I'll be looking for this pullback to continue. Once it starts moving up from the short term down trend I'll look for a logical entry to go long. All TBD. Ideas, not investing / trading advice.
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I have opened a 1/2 size position on the strength of today. Entry price 426.48. Stop below today's low. I'll be looking to bring this to a full position if it's strong into next week. All TBD.

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