Hey Traders,

Licia Leslie in the Pit Report today.

Yesterday, Mark started digging into Roku Inc. (Ticker: ROKU)… 

Now I’m here with the charts!

ROKU has been rallying since the first of the year and finally busted out of a very long down trend going back to August 2021.

The very top of that downtrend high is just shy of $500!

On December 28, 2022, ROKU traded a low of $38.26.

It has since bounced back up to $66.86, with a bit of a pullback and closed on Tuesday at $56.64.

Currently, ROKU is holding the support level I have at $53.50:

It also has support at this level from the large node on the volume profile.

Below here the next support level comes in at the nice rounded number of $50.

After the action of the last couple days, ROKU is looking bullish and could possibly make a run to my first resistance level of those previous highs at $62.50.

The volume profile supports this bullishness with a thin zone area, meaning it is wide open to rally higher.

Above $62.50, the next level of resistance comes in around $66.86 (most recent high) and $68.31 (the 200 day moving average).

Trade accordingly and I will … See You Next Tuesday,

Licia Leslie