With the market at highs we finally saw some really successful IPOs this week in ROKU & RYB. ROKU, the digital streaming tech company opened above the range at $16 and nearly touched $30 in its second day trading. This will definitely be a stock to watch going forward. Any sort of consolidation flag on an hourly chart or higher and I will consider. We've already beasted on RYB's big brothers TAL & EDU, so it was only right RYB got the same treatment. This is another one to watch for a setup.
It's no secret recent IPO's are our favorite setup because of the type of momentum moves we often see. Since they have no price history, there is no support or resistance. It's all price discovery. This means the envelope is much more easily pushed.