Streaming Stock Brushes Bearish Trendline

It's been a tough run for Roku (ROKU) stock, which is already down 36.8% in 2024. The security is sticking close to six-month lows, though a floor has formed at the $56 level in recent weeks. Those looking to buy the dip on ROKU should hold off for now, as things could get bumpier in the coming month.The security just came within one standard deviation of its 50-day moving average, after a lengthy period below the trendline. According to data from Schaeffer's Senior Quantitative Analyst Rocky White, Roku st ...