The content details a swing trade on Roku (ROKU) initiated by Brian from Bear Bull Traders, highlighting the stock's post-earnings surge and a successful opening range breakout strategy.
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hey guys it's Brian from bear bull
traders just thought I'd go over a swing
trade that I did on Thursday night into
Friday and it was on roku r okay you you
can see here it's a recent IPO not a lot
of trading history and on thursday had a
binary event there was earnings release
and had a great quarter quarterly report
and subsequently stock surged higher you
can see this big green bar here and i
understand also that maybe there was
some significant short interest in this
stock so you can see here a significant
gap up and really an illustration of why
I don't like to trade things like
earnings events cuz obviously a lot of
people felt that earnings were gonna
come in late or under street estimates
and the thing was gonna tank and they
were wrong badly wrong so you know you
you know there was a lot of pain there
if you were short down in this range in
the 20 range and he woke up in the
morning and you er saw the stock trading
at $25 and it got worse from there so
again it's a illustration why I don't
like to trade earnings call so you know
if you'd have been long yet but it went
great for you but a lot of people were
short and it wasn't so great and so
that's why I just don't like trading
earnings just feels like too much of a
crapshoot for me no matter what you know
you think company's gonna report you
just never know till that opening bell
anyway I don't want to dwell on that I
want to talk about my swing trade so the
you can see here the previous high close
was on the second day of trading is up
here so clearly the stock traded well
through that and continued up to close
near the all-time high you can see this
reversal day here but
yeah is nice strong market price action
all the way through the day and close
near the high of the day you can see
that little tail there that just just
off the high and lots of shares 30
million shares traded so technically it
looked really nice for a set up going
into the following day Friday for
another you know gap up and sure enough
that happened this is one minute chart
on roku kind of covers the latter half
of latter part of Thursday and into
Friday morning so you can kind of see
here I had bought some shares back in
this range when the stock continued to
show strength so I started my starter
position back here and it continued you
know into the last hour trading we had a
nice little kick up and then
consolidation a little bit of profit
taking here getting close to the close
held support got me a little concerned
here I just didn't want to see a tail
right off but it held support and then
pop back up and I added to my position
in these last couple of minutes here so
next morning woke up I'm up nicely 31
dollars and it did a nice little
consulted you know consolidation here at
this 31 dollar level and then opening
range breakout so I took some took a bit
of shares off here just to take some
profits booked some profits and then
like I said this three three minutes and
then a nice opening range breakout and I
think I took the rest off around 30 to 30
30
yes range I felt it was getting pretty
extended at that point and so I could
have played it through 33 I suppose but
you know like I said I was pretty happy
with the gains I had made so I just just
booked it and that was it so lovely
little opening range breakout this is
the kind of thing that we look for in
the day trading room as well you know
you can kind of see this you know
sellers and
buyers are fighting back and forth
trying to decide which way this thing
goes and then a couple minutes and it
starts to to go to the upside so maybe
some more short-covering who knows but
anyway a buyers were still in control at
that point so anyway that was my swing
trade love the way it set it up it set
up no binary events the earnings report
was behind behind me and had good volume
technically it set up really nicely for
a continuation into the following day so
took that trade and will make book some
profits anyway I hope you guys learned
something from that and we'll look
forward to seeing you in the chat room
on Monday morning little bear traders
and I hope you guys have a great rest of
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