Roku +3.80%: Breaks $105 Resistance, Eyes $111
$Roku Inc(ROKU)$
Roku Inc. (ROKU) Surged +3.80%: Streaming Pioneer Breaks Key Resistance, $111 Target Zone Activated
Latest Close Data
ROKU closed at $105.56 on December 10th, gaining +3.80% ($3.86), now trading just 9.5% below its 52-week high of $116.66.
After-hours trading extended gains to $105.06, showing continued momentum.
Core Market Drivers
Streaming sector optimism drove ROKU's breakout above $105 resistance as the company benefits from cord-cutting acceleration trends.
Strong institutional backing with net inflows of $295M today signals renewed confidence in streaming monetization strategies.
Holiday advertising demand provides seasonal tailwinds for the platform business.
Technical Analysis
Volume of 2.94M shares (0.79x ratio) accompanied the breakout with strong momentum indicators.
RSI(6) surged to 75.8, entering overbought territory but showing bullish strength.
MACD turned positive at 1.91 with DIF crossing above DEA, confirming upside momentum.
KDJ readings (K=80.5, D=67.2) indicate strong buying pressure.
Key Price Levels
Primary Support: $94.02 (previous swing low) Strong Resistance: $105.62 (now immediate pivot) Immediate Pivot: $106.03 (today's high serves as next resistance)
Valuation Perspective
Trading at 3.43x P/S ratio, ROKU remains reasonable for a growth streaming platform.
Despite negative TTM earnings (-$0.19 EPS), forward PE of 313.31 reflects improving profitability expectations as advertising revenue scales.
Analyst Targets
28 analysts maintain average target of $111.51 (range: $73-$145).
Bullish sentiment prevails with 7 Strong Buys, 14 Buys, 10 Holds, and only 1 Underperform rating, indicating 75% positive coverage.
Weekly Outlook
Expect consolidation between $105-$108 range before potential breakout toward $111 analyst target.
Break above $106.03 could trigger momentum toward $110-$112 zone. Key support remains at $101 psychological level.
Risk Disclaimer
This analysis is for informational purposes only and does not constitute investment advice. Past performance does not guarantee future results. Please conduct your own research before making investment decisions.
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