Roku (ROKU) Just Overtook the 200-Day Moving Average

Roku (ROKU) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, ROKU crossed above the 200-day moving average, suggesting a long-term bullish trend.

The 200-day simple moving average is a useful tool for traders and analysts, establishing market trends for stocks, commodities, indexes, and other financial instruments over the long term. The marker moves higher or lower along with longer-term price moves, and serves as a support or resistance level.

Over the past four weeks, ROKU has gained 5.8%. The company is currently ranked a Zacks Rank #1 (Strong Buy), another strong indication the stock could move even higher.

Looking at ROKU's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 8 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.

Investors may want to watch ROKU for more gains in the near future given the company's key technical level and positive earnings estimate revisions.

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Roku, Inc. (ROKU): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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