[Trade Idea] Our A+ Setup in ROKU

[RagingBull Elite]( Undefined, Wall Street has all its hopes set upon [the possibility of a stimulus.]( And until we get that, odds are— we’re in for some more choppy trading. That means the bar has been raised for us as traders. So how do we attack the market now? [By focusing on our A+ setups.]( This requires filtering through all the stocks out there… And narrowing it down to the ones that demonstrate one more of our favorite criteria. Could be a stock that... - Meets a favorite breakout pattern - Has a great reversal - Has been in the news lately and shows potential to move up - Demonstrates strong momentum, such as a tech leader We just identified one such stock that could have strong potential moving into next week. The play is ROKU, which we bet is not an unfamiliar name to you. [Alternate text]( The stock has been on watchlists ever since its first day of trading and for some good reasons: - A very hot tech/IoT/streaming sector - A history of blow out quarters - As of lately, being an indirect benefactor of COVID and stay-at-home trends But above all that, technicals look as good as ever. Having tripled from its march lows, the stock has held every dip and broke out of every consolidation since. And most importantly, consider how strong it’s been!!! While nearly every name out there has been pulling back, ROKU’s been on the run. Just recently, it finally broke above it’s prior all time highs of $176.55. It’s pulled back after a “runaway” breakout and is now consolidating in the 180 area, which is where we love it for a trade. If ROKU holds in this area, it will absolutely have to retest the $200 and possibly break and go much higher. Here are a couple of options ideas: 9th of October, $190 CALL currently trading for ~$5.4. 16th of October $200 CALL currently trading for ~$4.5. We want to see the stock holds this area before ripping higher for a parabolic up move. Therefore, our hard line in the sand is $176 in stock, at which point we’ll be out of options and reconsider. And by the way... Jeff Bishop has another A+ setup that he wants to share with you. [It drops here in Bullseye Trades tomorrow.]( He even just sat down to walk traders though his most recent Bullseye setups. Check it out here... 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