While the Entertainment industry has seen its earnings increase by 10.5% each year on average, Roku Stock’s earnings have been dropping by -25.7% yearly on average. Simplywall, a financial website that offers analysis and insights, reports this. Roku Stock’s revenues have been increasing by 34.5% on average per year.
The debt-to-equity ratio of Roku Stock is 0%, with a total shareholder equity of $2.6 Billion and no debt. Simplywall, a financial website that offers analysis and insights, shows that the company has total assets of $4.1 Billion and total liabilities of $1.5 Billion.
The market capitalization of ROKU stock is $10.117 Billion and the total revenue is $3.13 Billion. Moreover, the ROKU stock’s basic EPS is $−4.78 and the price-to-earnings ratio is -15.2. Moreover, the average volume is 6.86 million and the current volume is 4.158 million, the current volume is below average volume.
Moreover, the ROKU stock has done well this month, increasing by 15.16% but it has surged by 42.69% in the last six months. Roku Inc (NASDAQ: ROKU) stock has a positive year-to-date return of 72.41% and a negative 1-year return of 24.33%.
Technical Analysis of Roku Price in 1-D Time Frame
The price action shows that Roku Inc ( NASDAQ: ROKU) stock price began 2023 with an uptrend, making higher highs and higher lows and rising sharply until mid-February.
However, at that point, the ROKU price faced rejection and dropped sharply until mid-May. From there, the ROKU price rebounded and rose again, breaking through the in-between resistances and reaching $79.40 by July 12th. But since then, the price has broken the higher high pattern and has been trading at $71.86 at the time of publishing.
Therefore, it is possible that the ROKU price may decline and a downtrend may resume if the ROKU price fails to sustain the current market price level. In that case, the ROKU price would go downwards and reach the support levels of $60.62 and $50.58.
Alternatively, if the ROKU price succeeds in sustaining the CMP level, then it may reach the nearest resistance levels of $79.40 and $88.05.
At the time of publishing, Roku Inc. is trading above the 20, 50, 100, and 200-day EMAs (exponential moving average), which is barely supporting the Roku price trend, and the price faced rejection from above resistance and EMA’s might be destroyed one by one if ROKU Price fails to sustain. Hence, Roku Price is expected to move downwards giving bearish signals over the daily time frame chart.
The current value of RSI is 54.63 points. The 14 SMA is near the median line at 60.37 points which indicates that the price took rejection from the 14 SMA line and is bearish.
The MACD line at 2.80 and signal line at 2.76 are above the zero line and in bullish territory. However, both MACD and 14 SMA line has narrowed and a bearish crossover is anticipated soon in the MACD oscillator which signals an upcoming bearish trend for the ROKU stock price.
Summary
Roku Inc. (NASDAQ: ROKU) shows that the investors and traders of the stock are bearish on the 1-D time frame. The price action shows a bearish outlook at the time of publishing. The technical parameters of the ROKU stock price also support the bearish trend. The major indicators MACD, RSI, and EMA are giving negative signals and imply that the downtrend may continue in ROKU share price.
Technical Levels
- The nearest support levels: $60.62 and $50.58.
- The nearest resistance levels: $79.40 and $88.05.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/07/25/roku-price-prediction-can-roku-stock-break-above-hurdles/