ROKU Candlestick Forms Extreme Bullish U-Turn 1-14-20

ROKU Roku Inc Stock Chart 1-14-20

ROKU Roku Inc Stock Chart 1-14-20

Imagine you sell stock short and you quickly realize you are wrong. The trade instantly moves against you. 

The entry signal was a common chart pattern, so you and thousands of other traders were looking at the same daily candlestick chart.

So the situation we have is a lot of people need to cover the short and buy the stock back.

Now imagine price action gives another signal, this time a buy. Buy-stops go off and thousands of traders are know long.

We now have two groups of buyers in the same stock. We have demand for shares. One side is trapped, one side is hungry for more.

ROKU Roku Inc traded into a bullish U-Turn yesterday that eventually became an outside candlestick. The stock price broke support from a week ago and yesterday's low, then reversed (hence the name "u-turn") 

Combine this with a close near the highs and i'm looking for a new long in ROKU with a price target of $146. I need to see it trade above yesterday's high to enter.

Have a great day.

Pete


Former hedge fund manager slams Wall Street in viral video
 

One bold former hedge fund manager just went on camera to expose how Wall Street is failing American investors right now. 

He’s boiled down what’s happening in the markets to just two words. And he’s urging people to take notice. You’re not going to see the details of what he’s predicting anywhere in the news, especially not from the big banks on Wall Street.

Click here to watch.

STOCK MARKET MUST-KNOW

China Agrees To Buy More Cars, Airplanes, Energy From US In Phase 1 Trade Deal

Sources familiar with the Phase 1 trade deal told Reuters China has agreed to purchase $80 billion of additional manufactured goods from the U.S. over the next 24 months, as part of the “Phase 1” trade deal that's expected to be signed on Wednesday.

zerohedge.com/china-purchases-trade-deal

STOCKS IN PLAY

Alphabet Shares See Monster Buying

A gain of 17.34% the past three months for shares of Alphabet Inc. (GOOGL) likely couldn't have happened without big investors buying shares. This buying is quite recent, and as the search company keeps making big profits, shareholders could be rewarded handsomely. We think the rush for this stock is happening now.

investopedia.com/alphabet-shares-see-monster-buying

Pete Renzulli
 

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