High volatility in Roku stock price on Monday which ended trading at $71.69StockInvest.us, 1 month ago
The Roku stock price gained 9.42% on the last trading day (Monday, 1st Aug 2022), rising from $65.52 to $71.69. During the day the stock fluctuated 13.81% from a day low at $64.00 to a day high of $72.84. The price has been going up and down for this period, and there has been a -18.74% loss for the last 2 weeks. Volume fell on the last day by -19 million shares and in total, 26 million shares were bought and sold for approximately $1.90 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The last rating was given by Morgan Stanley on Aug 01, 2022. The price target was changed from 80 to 55.Over the last 90 days, this security got 4 buy, 15 sell, and 1 hold ratings.
The stock lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $65.33 is broken, it will firstly indicate a stronger fall rate.Given the current short-term trend, the stock is expected to fall -10.87% during the next 3 months and, with a 90% probability hold a price between $58.23 and $87.70 at the end of this 3-month period.
A buy signal was issued from a pivot bottom point on Friday, July 29, 2022, and so far it has risen 9.42%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Roku stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $80.67 and $86.28. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
On the downside, the stock finds support just below today's level from accumulated volume at $65.52.With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $0 may give a huge drop in the stock price.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $8.84 between high and low, or 13.81%. For the last week, the stock has had a daily average volatility of 7.94%.
Roku holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.Check full Roku forecast and analysis here.