ROKU - Double Top into Bearish Sequence
Roku price has created what looks to be a Double Top Pattern!
Price unable to create a Higher High, then broke down below the Low (Point A) signaling a strong Bearish trend!
I suspect Price to retrace to the Fib'd Range @ 76.37 - 81.24 to then be rejected down to Sequence Target @ 58.1 - 49.2!
-This Price Action would also outline a Head & Shoulders Pattern.
As for Indicators, Price Action has moved beneath a curling 200 EMA along with my Dynamic Support & Resistance strengthening my Bearish Bias.
Fundamentally, job layoffs have been a big talk for tech companies.
tradingview.com/news/DJN_SN20230929007169:0/
Price unable to create a Higher High, then broke down below the Low (Point A) signaling a strong Bearish trend!
I suspect Price to retrace to the Fib'd Range @ 76.37 - 81.24 to then be rejected down to Sequence Target @ 58.1 - 49.2!
-This Price Action would also outline a Head & Shoulders Pattern.
As for Indicators, Price Action has moved beneath a curling 200 EMA along with my Dynamic Support & Resistance strengthening my Bearish Bias.
Fundamentally, job layoffs have been a big talk for tech companies.
tradingview.com/news/DJN_SN20230929007169:0/
Novi_FIbonacci
Telegram - t.me/+l3fTcsZu91ZiZDkx
Telegram - t.me/+l3fTcsZu91ZiZDkx
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