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- 1 ROKU Inc. is a free-on-debt company and had no debt considering the last 5 years.
- 2 ROKU stock price increased by 1.30% over the past week and the current volume is below average.
- 3 Roku Inc. ( NASDAQ: ROKU) stock’s 52-week price range is around $38 – $98.
The Roku stock earlier publicized its Q2 earning report on July 27th, 2023, the reported earnings gave a positive surprise by 39.97% from the estimated earnings. Moreover, the reported revenue also gave a positive surprise by 9.36% from the estimated revenue.
ROKU stock average volume is 11.951 Million and the current volume is 7.288 Million where the current volume is below average volume.
Roku Inc. (ROKU) stock market capitalization is $11.222 Billion and the total revenue is $3.127 Billion. Moreover, the stock’s basic EPS is -$4.72 and the price-to-earnings ratio is -17.
ROKU stock is expensive, as reported by the financial analysis website Simply Wall St., based on its ratio of Price-To-Sales which is 3.5x compared to the estimated Fair ratio of Price-To-Sales which is 2.2x and compared to the average of the US Entertainment industry which is 1.2x.
According to the analyst’s future growth forecasts on Simply Wall St., highlights that ROKU stock is predicted to remain unprofitable over the upcoming next three years. Moreover, ROKU stock’s current revenue generated per year is 13.7%, and it is predicted to increase slower per year by 20%.
Technical Analysis of ROKU Stock Price in 1-D Timeframe
The price action shows that Roku Platforms Inc. ( NASDAQ: ROKU) stock price started its venture in 2023 with a swift uptrend and within 7 months by August 1st, 2023, reached a high of around $98. Since then, the ROKU stock is in a continuous downtrend from the last three weeks by making lower lows and highs.
At the time of publication, the ROKU Stock’s current price is trading around $79.30 trying its best to sustain CMP and facing the nearest resistance around $88 and most probably Roku Inc. stock might decline more as buyers have no clear control barely holding ROKU price and may drop back to the liquidity demand zone as selling pressure is high and furthermore, it is noticed that the price is following trendline’s resistance and declining.
Therefore, if Roku fails to maintain the current level, then ROKU price could continue to drag downwards and hit the nearest support levels around $67.88 and $60.62.
However, if the stock price sustains the current level and Roku’s price increases, then it might reach the nearest resistance levels of $88.72 and $98.51.
At the time of publishing, Roku Inc. (NASDAQ: ROKU) is trading below the 20 EMA which is rejecting the price and 50 EMA is supporting the price. As per the investor’s sentiments, if more selling volume adds up then the price might conquer supporting EMA by making lower highs and lows. Conversely, if more buying volume adds up then the price might conquer rejecting EMA.
The current value of RSI is 49.85 points. The 14 SMA is above the median line at 56.90 points which indicates that Roku share is in bearish territory and the RSI line took rejection from 14 SMA and indicating bearish signals.
The MACD line at 1.65 and signal line at 3.07 are above the zero line and both lines have crossed each other. A bearish crossover is noticed in the MACD oscillator which expresses bearish hints for the Roku share ck price.
Summary
Roku Inc. (NASDAQ: ROKU) indicates that the traders and investors of the stock price are bearish on the 1-D time frame. The price action for ROKU stock predicts a bearish outlook at the time of publishing. The technical analysis tools of Roku share price also support bearish hints. The EMA, RSI, and MACD highlight downward hints and predict that a downtrend may continue in Roku stock price.
Technical Levels
- Support levels: The nearest support levels for Roku stock price are $67.88 and $60.62.
- Resistance levels: The nearest resistance levels for the Roku stock price are $88.72 and $98.51.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
