$ROKU to be Added to the @TradeIdeas HOLLY Hot List

July 16, 2018

Since its September 2017 IPO, $ROKU had one big breakout to new highs just shy of $59. It has since spent the entirety of 2018 consolidating that breakout.

Quietly, the stock has been stair-stepping up off the lows of this consolidation and has caught the attention of HOLLY for long trades twice in recent weeks. And while not textbook, the chart appears to be forming a bit of a cup ‘n handle pattern that has my attention.

So, I’ll be adding it to the HOLLY Hot List at tomorrow’s open and it will remain on the list until such time that we see a 20% pullback from the high print we see during our hold.

HOLLY Hot List updates

The Bull Market appears to be back and that’s good news for our list of high beta names. Though, we lost one late last week, $AGLE, which never really gave us much opportunity for any profits. If you held with me through the stop loss, we suffered a 16% loss.

Our best performers over the past 5 trading days have been: $NVCR (+8%) TDOC (+ 6%) $USAT (+6%)

While our laggards have been $AGLE (-10%) $SURF (-10%) $VRS (-8%)

Prices as of the close of trading on Monday July 16, 2018

 

I don’t know about you, but it’s starting to feel to me that another major leg up in the broader indexes is about to occur. All the more reason to stay the course with bullish swing trades!

If you’d like to learn how HOLLY, the Artificially Intelligent Virtual Analyst, can improve your trading and investing results, please visit Trade Ideas.

Good luck out there!

~ Sean McLaughlin (@chicagosean)