Roku ends cautiously higher - Analysis - 21-06-2022

Roku's stock climbed after inking a partnership deal with Walmart to allow viewers to purchase products using their remote controls during TV programs, with the stock marking a profit of 4.89%, or 3.84 points, settling at 82.42, with trading volumes surpassing 10.7 million shares, barely above 10-day averages. 

The stock is trying to recoup some recent losses and vent off oversold saturation in the RSI after positive signals, amid the dominance of the main downward trend in the short term, with negative pressure from the 50-day SMA. 

Therefore we expect the stock to return lower, targeting the support of 58.45, provided the resistance of 105.85 holds on.

Expected trend for today: Bearish 

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