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- 1 Roku stock price surged 1.27% in the last trading session and is currently trading at $97.49.
- 2 Roku share price (NYSE: ROKU) is expensive based on its Price-To-Sales Ratio (4.3x) compared to the peer average (4.2x).
Roku Inc., is a TV streaming company that has two segments: Platform and Devices. Its platform helps users find and watch various TV content. The company also makes money from digital ads and related services, such as sharing revenue from subscriptions and transactions; promoting media and entertainment content; offering premium subscriptions; and selling branded buttons on remote controls.
ROKU’s share price is currently trading at $97.49, inclining 1.27% in the last trading session. Roku stock holds a market cap of $13.8 Billion. It has a total of 164.7 Million shares outstanding. The PE ratio for the stock is -20.1. The price-to-sales ratio for the stock is 4.04
Roku stock derivatives data states that the current Implied volatility in the market is 60.08% with a decrement of 3.34% in the last trading session. It has a total of 346.784K open interest contracts as of now. The PUT/CALL ratio is 0.96 indicating a bullish sentiment in the market as per the data.
Roku Stock Price Prediction Using Price Action Strategy
Roku share price analysis reveals that the stock was in a long correction phase and declined nearly 90% after topping out in July 2021. The price declined forming lower highs and lower lows from August 2021 to December 2022. However, the year 2023 came out to be a very fruitful year as the stock gained momentum from the very start and shifted its trend to an uptrend.
Thereafter, the price consolidated to form a new higher low and surged higher forming higher lows and higher highs.
Recently, the disclosure of results hiked the price by nearly 38% in the past four trading sessions. Also, the price is nearing the $100 mark. Which may act as a barrier and the stock might observe a profit booking.
Now, if the stock does not experience any major profit booking near $100 and the stock sustains near the zone then the breakout of the zone may add some more return to the portfolio of Roku Investors.
Roku Share Price Forecast from Indicators’ point of view
As per the EMA analysis, the Roku stock price is trading above 50 EMA and surged higher after getting support which indicates the short-term presence of buyers in the market. Also, the price is trading above 200 EMA which shows a long-term bullishness in the stock.
At the time of publishing, the RSI value of the Roku share price is 76.32 and that of the SMA line is 62.83. RSI has entered an overbought zone which indicates the stock might observe a pullback in the coming sessions.
Conclusion
Roku stock price prediction concludes that the stock was in a correction phase for the past 17-18 months and declined almost 90% after topping out. However, the year 2023 came out to be a very fruitful year as the stock gained momentum from the very start and shifted its trend to an uptrend. Recently, the disclosure of results trusted the stock price with momentum surging nearly 40% in the past 4 days.
Now, the stock is nearing a barrier of the $100 mark which might halt the stock price leading to a profit booking. However, if the stock does not suffer major rejections from the resistance and starts sustaining near the zone then the stock may try to continue with the flow and add some more returns in the portfolio of its Investors.
Technical Levels
- Support levels: $71.90 and $52.30.
- Resistance levels: $101.86 and $120.68.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
