Don't Bet on a Roku Stock Rally Just Yet

Roku Inc (NASDAQ:ROKU) stock is down 33.6% so far in 2024. The shares have yet to recover from February bear gap and have even moved lower since. Still, bulls should hold off on buying in on the dip, as ROKU could move lower still. That's because the security just came within one standard deviation of its 50-day moving average, after a lengthy period below the trendline, defined for this study as having traded south of this trendline 80% of the time over the last two months, and in eight of the last 10 trad ...