Active Stocks: Roku Inc [NASDAQ: ROKU] was a big gainer in Wednesday’s trading session and was up by 9.06% at the close of the session. This followed a series of good news around this stock. The biggest news of the day was that, Macquarie Research had upgraded ROKU. This is the first time that ROKU has received such an upgrade after its huge drop in price for the past two months.
Macquarie Research stated that ROKU is in pole position in the U.S, and that it has the potential to grow in the international market. This seems to have watered down concerns that the company’s market position was under threat, from bigger players that have entered the streaming business.
Looking at the daily chart above, ROKU seems to be in the early stages of a new uptrend. After testing the $100 support some weeks ago, Roku has rebound and has been gaining consistently. Yesterday’s gap up and a solid bullish candle is a good indicator that the bulls may be back in control.
Today, ROKU could see a continuation of this trend if its pre-market price action is anything to go by. At the time of writing, ROKU was up by 0.18%, to trade at $118. External factors that could impact on ROKU in Thursday’s session include trade talks between the U.S and China, and news that the Fed officials lacked unanimity when deciding on the September rate cut.
About Roku Inc
Roku is a television streaming platform. The company has two segments namely: Player and Platform. The company’s products allow users to enjoy music, news, and even live sports. The company had 27.1 million users as of December 2018. It has its headquarters in Los Gatos, California.