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Roku Stock Jumps 230% In 2019, Beating Out Netflix Gains

roku

Roku, a streaming company that competes directly with Netflix, Hulu, and the others, is having an incredible year when it comes to stock price. In fact, the group has reported a 230% increase in 2019, which is eleven times higher than Netflix’s rise in the same period. This is a record number for the company, reports CNBC.

The founder of day trading analysis firm, TradingAnalysis.com, Todd Gordon, commented on the matter while speaking to the publication’s own “Trading Nation” show:

“Very, very explosive stock here. You can see going back to the beginning of 2019 just an amazing, amazing uptrend here in Roku. I’d like to play a continuation higher on this chart. … We wouldn’t expect to see technical resistance until we’re right around the $125 mark in terms of that upper channel.”

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Of course, the channel Gordon is referring to showcases highs starting in February and just never stopping up until the middle of July. That said, he does believe there will be a brief stopping period, a bullish flag, that has been growing over the past two weeks. However, this could mark just a small slowdown before it picks back up. Gordon, continuing his thoughts:

“Heading into earnings, it’s quite interesting, we have very high implied volatility here in Roku. If you look at the expected move on the top side, it’s looking for a move all the way up to $120 if the stock where to surprise on the upside. Conversely, if we disappoint, you could be looking at something down to $89.58.”

Hitting $120 would mark a 19% rise in the stock, which could even be a new record. Conversely, dropping to 89.58 would be an 11% fall. Regardless, the analyst is doing what he calls a butterfly call spread to combat any potential volatility that could occur post-earnings report next Wednesday. However, the streaming company is performing well despite a potential drop, and will likely go higher this year.

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Max Moeller

Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/