ROKU Trade on Oct 11, 2019 09:30 from J_Matrix: Tradervue User Stock Trades.

Opening Drive Trade reaction after a positive after hours catalyst.

Intraday Fundamentals:
-RBC Capital analyst Mark Mahaney, who had downgraded Roku on July 1, has now upgraded the stock to Outperform from Sector Perform and raised his price target on the shares to $155 from $107, stating that he sees the valuation as "more compelling" following a 31% pullback recently in the stock. He also views the company's fundamentals as among the strongest in the small cap Internet sector and views the stock as one of the best derivative plays on the trends of OTT and streaming, Mahaney tells investors.
-Elevated RVOL premarket
-ATR 8.46

Technical Analysis:
-$ROKU has been in a very bullish daily chart pattern since the breakout day on Oct 9th 2019
-Oct 10th, $ROKU has continued to show signs of strength early, however faded back all day and held 115 as key support. The stock never traded under 115 and basically hovered above it indicated that it's just consolidating from it's gains from Oct. 9th. The stock closed at 116.13
-Oct 10th AH the RBC Upgrade hits causing $ROKU to ramp up well above 120 by the AH close.
-Oct 11th PM $ROKU gapped up from 121 to 123.67. Proceeded to keep ramping higher until it topped out at 125. 830am the price starts fading for 1/2 hour down to 123.60 where it found a bounce point PM and made it's PM lows.
-9:17am as $ROKU was trying to grind back up to 125, it gets stuffed at 124.80 and a mini down trend begins.
-Stock got under 124 and attempted to reclaim at 9:29am only to fail right at that minute.

Thesis:
-With the stock being so bullish from Oct 9th, there are still longer term buyers from that date who has yet to sell any of their holdings. With the stock gapping from 116-125 overnight, this is a prime opportunity for them to sell some of their holdings to lock in profits. Looking for a profit taking pull at the bell.
-Short right at the bell risking 124.11.
-If stopped out, watch 125 to retest and see if 125 rejects or B/O to determine short or long.

Remarks:
-This trade is pretty much only based on the psychology of prior buyers and it's very speculative. The trade really could have gone either way in my opinion, but given the risk of only 30c or so in a stock with an ATR of 8.46, I think I would have really kicked my self for not participating in it. As far as the edge goes, I'd say it's about 60/40 in my favor.
-It might seem that I got out of the stock flat too soon, however, I've been in multiple situations where trades like these bounce right back into my face and some. After the 1st minute candle, the 123 mark looked to me like it wanted to reclaim given the long tail on the 930am candle. So I took it off as near 123 as I could possible.
-I really wished I recorded the tape...