$ROKU Power Earnings Gap (PEG) now W/ Bull Flag?

had been basing for about a year before breaking out on Earnings on July 28th on massive volume. That was followed up with 2 more days of heavy buying volume. It has since pulled back near the original breakout area and forming a possible Bull Flag. And if you were to zoom out to a weekly chart, I can see this as being a Cup w/ Handle formation. I think this would have kept going if not for the downward pressure on the market. This may also prove a great entry once it moves up and over the downward sloping flag. TBD.

This is one of my top watchlist stocks for when the market turns broadly positive. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.

Trade active

Triggered in 1/2 sized position @ 80.06. Stop just below LOD. Will look to add on further strength.

Trade closed manually

I closed this position for a very small loss. Looks like I could have held but I have no cushion and reports tonight. If they miss I think it takes a lot of the market with it. In other words I'm in capital preservation mode. Still high on the watchlist.

Note

is still on my active watchlist It is consolidating nicely here which could turn into a better move higher once it gets going, All TBD. I have an alert set to take a look again if it hits $81.00

Trade active

I like the way is holding up into the last 1/2 hour of trading. I've opened a 1/4 sized starter position and my stop will be a close below the 50 DMA, not shown on chart above but it is close to the horizontal support line. Let's see what happens.

Trade closed manually

is not doing much today and the market has rallied for several days. I've
taken this off with a small win. I'll look to see if there is an entry next week. I may not be around Friday and Monday is a holiday. Back on the watchlist.

Note

is now pulling back to the 50 DMA (RED). If it holds here and turns back up I will look for an entry with my stop just below the most recent low it puts in. TBD Also of note that high vol bar that is red is only red because it closed lower that it opened and it closed higher than the previous close.

jaxdog

Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I may or may not take any trade published and I am under no obligation to post any action or update to any idea.

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

jaxdog

Also on: