With the market under pressure a long term trading strategy like Stage Analysis will temporarily not work. The reason is that overall selling pressure from the stock market is putting downward pressure on even the best stocks. Sometimes the very best stocks will still power higher but it’s much harder to find and hold those stocks when the market is under pressure.
ROKU is one of the stocks that is remaining resilient while the market is absorbing selling pressure. Not only is it trending higher but it’s intraday volatility has been good for trading around the Stage 2 trend higher. ROKU is an ideal Stage 2 stock with no overhead resistance and strong relative performance compared to the S&P 500.
Disclosure: I am long ROKU.
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