Trade Recap $YOKU

For some reason, last night I wasn't suuuper confident in my watch list. Probably because I had not done one since the 11th. I was however pleasantly surprised today when witnessing two in particular. YOKU and DANG. Today for my trade recap episode I am going to focus on YOKU.

Last night my idea was YOKU for a R/G move. I mentioned that even though it had moved quite a bit over the last few weeks I believed it still had some left in it. Before moving on it is very important to state the following. When I say I expect a R/G play I mean just that, I expect a stock to pullback slightly , or deeper than expected and form either a base/ rounding pattern or an orb set up from the pullback zone. What I DO NOT want to happen, at least most of the time is a gap up. When a gap up occurs on most stocks that have already had a strong move people holding will tend to sell. Low floaters could be a whole different story though. HABT action today was an example of a gap up and push into a failed momentum and you see what happened there! Here is what YOKU looks like as of 1:35pm 5/22

As you can see it went slightly red early on and shot right up and never looked back! Now lets take a closer look at what was going on intraday and where the R/G buy spot was.

Many times a R/G trade tends to be a quicker trade, however this one ended up being a huge winner for those who held for the over $5 gain. You dont have to wait for the stock to be green to take the trade, what we are looking for is the setup to take the trade, either a base setup or an orb. With YOKU it tended to coincide with the R/G move. Great trade for those who took it!