We Will We Will Rok u…

Over valued TeeVee company ROKU got killed this week. It started with Apple’s news (last week I think) and continued with Comcast’s news this week. Analysts are falling all over themselves to downgrade the stock. I took a shot at it today, buying while I was out of the office and so I got to see little more than the $70/share haircut and a gap filling.

Here is what I like; the trends of both moving averages are up. So it’s a massive pullback within an ongoing uptrend at this point. The gap fill is nice. The story changes however if the July low gets taken out. The valuation was rich, the competition always was going to present itself and this bubble head stock got what it deserved. Now, from here I’d like to see it maybe close the gap above 145. I don’t think I’d tolerate a test of the SMA 200, but that would depend on my stock market view and portfolio balance/performance.

roku

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