<center>https://mentormarket.io/wp-content/uploads/2019/03/roku.png</center> <br/><p>I last talked about Roku about one month ago.</p>
<p style="text-align:center"><a href="https://steemit.com/investing/@rollandthomas/rokurockingagain-partii-rmmi0kj3cs">Roku Rocking Again - Part II</a></p>
<blockquote class="wp-block-quote"><p>While the S&amp;P 500 had a great start to the year, Roku’s share price rose 47% in January and then rose 48% in February.  However, Tom Forte at DA Davidson though there was more room to the upside and at that time, he raised his price target on the stock to $80, calling Roku's nascent streaming service a driver of future growth.</p>
</blockquote>
<p>Nevertheless, the chart suggested to buy Roku if and when price pulled back to the daily demand level at $50.</p>
<img src="https://mentormarket.io/wp-content/uploads/2019/04/image-124-1024x487.png" alt="" class="wp-image-14685" />
<p>Yesterday Roku was downgraded by Citi Research’s analyst Mark May.</p>
<center><img src="https://mentormarket.io/wp-content/uploads/2019/04/image-125.png" alt="" class="wp-image-14686" />
<blockquote class="wp-block-quote"><p>May downgraded the stock from sell to neutral on Monday, writing that developments in the over-the-top landscape could mean that consumers will have less reason to use Roku’s ROKU,  products and services. “For instance, Apple’s new [Apple TV+] service is not ad-supported (i.e., limited to no revenue opportunity for Roku) and Apple AAPL, announced several deals to directly integrate and distribute the service on several smart TVs,” May said.</p>
</blockquote>
<blockquote class="wp-block-quote"><p>He also sees Alphabet Inc.’s GOOGL, Android TV operating system gaining momentum. May set a 12-month price target of $50 a share, down from $53 previously.</p><p>In general, he finds shares to be expensive after nearly doubling in price so far this year. As of the publication of May’s note to clients, the stock was trading at a roughly 70% premium to peers and 80% to 90% above its 2018 lows, based on 2020 estimates of enterprise value to gross profit.</p>
</blockquote>
<p style="text-align:center"><a href="https://www.marketwatch.com/story/roku-stock-sinks-after-citi-cuts-to-sell-citing-apple-and-google-competition-2019-04-08?siteid=yhoof2&amp;yptr=yahoo">Source</a></p>
<p>His price target of $50 coincides with the daily demand at $50.  But why not play Roku to the downside as well. After the downgrade, price formed a 4 hr supply zone.  Thus, the chart suggests to short price if it pulls back to $64 and ride it down to the $51 level.</p>
<img src="https://mentormarket.io/wp-content/uploads/2019/04/image-126-1024x500.png" alt="" class="wp-image-14687" />
<p>NOTE: always want to get out before the opposing zone.</p>
<p>

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

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<center><em>Published by <a href="https://mentormarket.io/profile/?rollandthomas/">Rolland Thomas</a>
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