ROKU On the Short Radar

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On Wednesday, we called an audible short on ROKU on the Hit & Run Twitter feed.

Subscribers shorted ROKU at 109, covering half for a 1.84 gain and the back half for a 3.29 gain.

We re-loaded near the close based on the following daily ROKU.

ROKU has carved out an inverse Cup & Handle (bearish) that projects to the open gap at 96.50.

Underpinning the pattern is that ROKU fell out of a Bear Flag yesterday, snapping a rising trendline from late April on the close.

Checking a weekly ROKU shows a 3rd lower weekly high.

3rd lower highs on any time frame often lead to fast declines.

Pos ROKU

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