SBUX Trade on Aug 25, 2020 09:40 from spyrosz: Tradervue User Stock Trades.

This should have been a massive winner!

BREAKING NEWS: Stifel raises Starbucks (NASDAQ:SBUX) to a Buy rating from Hold on what it calls a reasonable valuation level.

Found SBUX gapping higher premarket due to analyst upgrade.
The main thing here that caught my attention was the fact that:
a) It was gapping above a 1-year old major daily desc. trenline, starting from ATHs=$99.7.
b) It would open right above/below of a HUGE-MAJOR DAILY resistance level/inflection level R1=$80.

Premarket plan was to get "long", only after it cleared R1=$80 and held above, for the Resist. lvl Breakout of R1=$80, expecting a push to R2=$81.77.

SBUX worked way better than originally thought. It opened above R1=$80!! on GREAT RVOL>>2.0, and immediately moved away from price, pushing higher towards HOD=$80.65. I waited very patiently for a pullback lower in order to participate.
It made a pullback to VWAP, and started holding $80.3s, with bid showing commitment!

Got long Tier 0, risking LOD=$79.8s, added another half-tier once I saw the bid defending $80.25-80.3s, wanting to add momo tiers through HOD for the rally to R2=$81.77.

Well, not being such a great momo name (despite good RVOL), it broke VWAP and flushed below R1=$80. Decided to quickly trim a some size to save risk, holding rest with original stop at LOD=$79.8s.

SBUX held R1=$80 and quickly reclaimed VWAP.

Reloaded all the size I trimmed as it was breaking through VWAP, added a momo tier as it was bull-flagging just below HOD=$80.65, thinking I was golden and this thing was about to explode.

Played me once more, and I had to get out of the momo tier once it failed to break HOD and rolled-over.

But I was quick to realize the asc. triangle pattern it was forming below HOD, so:

added more size, risking the latest higher low, added back the momo tier once it pushed to HOD for the 3rd time, expecting the triangle resolution.

This time worked as it should, sold small at $81, and higher after it resolved the continuation wedge.
HUGE volume - short squeeze - and SBUX pushed as high as $83.
Sold some in-front of R2=$81.77, still holding some size with an offer at R3=door for the gap-fill on daily=$83.5s.

(-) If it wasn't for my bad entries in the morning (buying resistance, selling support) that threw me a bit off and put me in a small red PnL, this could have been a HUGE winner..
(-) I should have risked vs R1+LOD the whole time.

Hit 1st target $83.5s. Holds well, looking good. Still holding some with offers around $86.

Hit final profit target (gap-fill on daily) and took out last small piece.
Great trade!