Roku Amazon S&P 500

Roku Slammed, Amazon’s Breakout, Plus Blackberry, JD, and More

This column is my opinion and expresses my views. Those views can change at a moments notice when the market changes. I am not right all the time and I do not expect to be. I disclose all my positions clearly listed on the page, and I do not trade my account on the stocks spoken of in this column unless fully disclosed. If that does not work for you stop reading and close the page. Do not bother me or harass me.

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Roku Slammed, Amazon’s Breakout, Plus Blackberry, JD, and More


Roku shares continue to get hammered and have been downgraded twice over the past two days, with Morgan Stanley yesterday, and Citigroup today. The stock is down about 10 percent so far in 2018, and over 19 percent since hitting its high of $57.50 on January 3. The borrow rate on ROKU has now shot up to 41 percent, according to data from Interactive Brokers, that is up from up from around 24 percent on January 3, the borrow rate is the cost to borrow shares on an annualized basis. A high borrow rate means finding shares of Roku to short are hard, and that likely means short sellers are coming back to into the name.


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(Interactive Brokers)

Roku technical Breakdown

Additionally, we had talked about Roku’s technicals breaking down, it has now fallen below support at $48.50, with the stock now trading under $46.50, well below support, and now what was support becomes resistance. The next level of support comes all the way down at $37.90.

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As we noted the other day, the seller at $1,192 appears to either be complete or has finally learned how to trade a stock, because shares of Amazon, have now broken out and have ripped higher. The chart below shows the level of resistance at $1,192, and the symmetrical triangle in the chart. Either way, shares are likely to continue to rise into what should a strong quarter for Amazon.


Visa, MasterCard, and PayPal

Have you seen the payment processor stocks just ripping higher to start the year? Visa, MasterCard, PayPal. If the holiday sales on the internet were robust, or for that matter anywhere, how do you think everyone made their payments.

PYPL Chart

PYPL data by YCharts


Blackberry shares continue to move higher after signing a deal with Baidu to develop driverless car software. The stock took out resistance around $11.75 and appears primed to move on to around $17. The company today is undoubtedly very different from the dominant force it once was.


Different Blackberry

Revenue has fallen dramatically over the years, and for now, at least analysts do not have significant expectations for revenue to grow in the coming years. But this could be a turnaround story and worth continuing to watch.

BB Annual Revenue Estimates Chart

BB Annual Revenue Estimates data by YCharts is breaking out in a big way today. It is a name we don’t often follow here, but one worth taking a look at, with a rise to $49 potentially being in the cards for this one.


S&P 500

The market overall just continues to move higher, and the S&P 500 has now cleared resistance, in a big way. We have been talking about this resistance trend line for some time, and the rise above likely means we get that acceleration in the overall market we have looked for. Hang on, 2,850 is coming in a hurry.

I have put a box on the chart to once again, set up a target zone, just like we did for the end of 2017.

s&p 500

That’s it!

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Tags: #Roku #Amazon #Visa #mastercard #sp500