In our review of ROKU on March 25 we wrote that traders should, "Continue to avoid the long side of ROKU. Let it fall and don't be too impressed with oversold bounces."
In the daily Japanese candlestick chart of ROKU, below, we can see that the shares bounced from the end of March to the middle of April. Prices have pulled back to correct 50% of this recovery and this is a good place to see if traders find ROKU attractive now.
The slope of the 50-day moving average line is still negative. The slope of the 200-day line is still positive and intersects around $276.
The On-Balance-Volume (OBV) line shows some modest improvement from late March. The Moving Average Convergence Divergence (MACD) oscillator has crossed above the zero line for an outright go long signal.