ROKU: It is time to read the CUE signals.

$ROKU is creating a false upside breakout at Watermark resistance pivot in the daily chart.

A few weeks earlier bearish Headwind had appeared at the same price level from where the price dropped.

Daily broke below Memory support.

Weekly Backdrop has turned bearish color.

The stock is at Price Extreme High - a lucrative position to initiate a short position.

Snapshot as of 12:30 PM EST on 23rd July. 

The stock is overvalued and with negative latest quarter earning growth.

roku 2019-07-23_12-35-05.jpg 
How did I find Roku today as shared in the post above?

By combining two scans. (1) Stocks at Price Extreme High  and Reversing and (2) Short Breakout scans.

There are several other stocks in that output. You might check that out!
$ROKU is attempting to break below Memory support again.

1) I shared the possible breakout on 23rd July. At that time, the candle ended with a lower tail.

2) That week's candle ended with bullish shape and bullish Backdrop (cyan) color.

3) Today, 29th July, as of ~10:10 AM EST, ROKU is once again attempting to break below the Memory trend line support.

4) The weekly has flashed a bearish Headwind possible reversal signal. Today is only Monday, and the message needs to be confirmed by the end of the week. Still, the Headwind is a cautionary sign.

Long position holders may consider booking or protecting profit, especially if the next Memory support (5) is broken.

roku 2019-07-29_10-10-52.jpg 
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