Resistance

Rise

<ul class="list-ic vertical">
 <li><span>1</span> <a>ROKU stock price fell 15.61% in October 2023.</a></li>
 <li><span>2</span> <a>The 50 and 200-day EMA in Roku stock displayed a bearish crossover.</a></li>
 <li><span>3</span> <a>The quarterly earnings of Roku Inc. are scheduled for November 1, 2023, after the bell.</a></li>
</ul>
<p>ROKU stock price fell 15.61% last month and eroded the majority of the gains generated in 2023. It displayed a double top bearish pattern on a daily chart due to which investors are reluctant to build fresh longs.&nbsp;</p>
<p>Roku stock price continuously declined by forming lower lows and dragged the prices below both the EMAs. It showcases the trend of stock has reversed down.&nbsp;</p>
<p>The 50-day EMA negatively intersected the 200-day EMA which indicates a bearish crossover and invites further decline. However, the stock price is near its important swing low at $51.00 which might act as an important support.&nbsp;</p>
<p>Previously, the buyers of Roku shares had succeeded in defending the $51.00 level and showed a sharp recovery. So, the investors expect that a similar pattern may be repeated.&nbsp;</p>
<p>In mid-October, buyers tried to break the $75.00 hurdle to bring back the confidence of investors. But the attempt failed and the up move ended as a bullish trap. Later, the price began to decline and returned to the yearly lows.&nbsp;</p>
<p>In the previous session, ROKU<a href="https://www.thecoinrepublic.com/2023/10/15/roku-stock-price-below-70-will-the-correction-continue/" rel="noopener noreferrer nofollow"> stock price </a>showed an intraday bounce of 5.71% ahead of earnings. So, it will be interesting to see whether the buyers can give the follow-up momentum or not.</p>
<h2 class="wp-block-heading" id="strong-will-the-roku-stock-price-recover-in-november-2023-strong"><strong>Will the ROKU Stock Price Recover in November 2023?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/JGpcETgSfAwEV0XXjuXuUd9ZHnGstxeiEd2Uxxh1A2pKzmQx2AtRm9NaYmBgWA6_qqLAsAwqlFBNO-QVJdsuES_dbVy5ZaG0mdZ1AlueS4NNdosKMSVtQ9tIEHTZxq_JteDkw-Gl1VQaX2BVcFnYmSA" alt="ROKU Stock Price Analysis: Will Earnings Halt the Downfall?">
  <figcaption class="wp-element-caption">
   Source: <a href="https://www.tradingview.com/x/YohPFMRQ/" rel="noopener noreferrer nofollow">ROKU </a>daily chart by Tradingview
  </figcaption>
 </figure>
</div>
<p>ROKU stock price had corrected a lot from the 52-week high so a narrow-range consolidation may be visible soon.&nbsp;</p>
<p>Roku Inc. will report the earnings today after the market closes. Analysts predicted an EPS of -2.041 and revenue of $856.982 Million.&nbsp;</p>
<p>If the company succeeds in meeting the EPS and revenue estimates. Then, a downfall in the stock price may take a halt and bounce back to $70 may be visible. The analysis suggests that that the <a href="https://www.thecoinrepublic.com/2023/10/15/roku-stock-price-below-70-will-the-correction-continue/" rel="noopener noreferrer nofollow">ROKU</a> stock price looks oversold so a temporary pullback after earnings is possible.</p>
<h3 class="wp-block-heading" id="strong-volatility-in-the-roku-stock-price-may-rise-strong"><strong>Volatility in the Roku Stock Price May Rise</strong></h3> 
<div class="tradingview-widget-container">
 &nbsp;&nbsp; 
 <div id="tradingview_5efbc"></div> &nbsp;&nbsp; 
 <div class="tradingview-widget-copyright"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> &nbsp;&nbsp; 
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp; 
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": "950",

  "height": "500",

  "symbol": "NASDAQ:ROKU",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "light",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

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  "studies": [

    "STD;RSI",

    "STD;Supertrend"

  ],

  "container_id": "tradingview_5efbc"

}

  );

  </script>
</div> 
<p>Roku Inc. stock fell for three consecutive weeks and displayed a bearish pattern. The volatility in the stock may rise due to earnings. So, investors need to be careful and wait for the confirmation of reversal before building longs.&nbsp;</p>
<p>The MACD curve is reversing upward indicating mild bullishness. The RSI at 37 sloping upward denotes that the stock price is in the initial phase of a relief rally. However, the supertrend says till Roku share price is below $65.54 the trend will remain down.&nbsp;</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p>ROKU stock price fell 15.61% in the last month and displayed a bearish pattern. The sellers look more active as compared to buyers. However, the quarterly earnings are scheduled today so a short-term pullback to $70.00 is possible in November.&nbsp;</p>
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5>
<ul>
 <li>Resistance levels: $68.59 and $75.59</li>
 <li>Support levels: $51.26 and $45.00</li>
</ul>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

ROKU Stock Price Analysis: Will Earnings Halt the Downfall?

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Thecoinrepublic.com

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