$RH Restoration Hardware major earnings beat yesterday. This is just an observation. I would not advise shorting this, but in my opinion $158-$159 range could prove to be the short term top. This is not investment advice.
RH after pr/earnings report had a large gap in the beginning of September. After that gap there was 0 follow thorugh the gap range just held in a tight box. Today the top of the box has broken and if it can close this way we should get a run to the 80s.
RH has been trading in a channel since June, it is now at the upper level of the channel, I will be watching for a short opportunity.
RH looks a very good momentum long, it crossed above EMA lines & money-flow is rising strongly. Ideal entry will be break of recent drop resistance at 30.24. We think it can easily reach up 34 and higher. You can check our detailed analysis on RH in the trading room/ Executive summery link here- Time Span: 61:30” Trade Suggestion Date: 5th Jul Trade Status: ...
$RH has a big test coming up. Was able to hold 18 month support and 50 week MA. Big test will be next week to see if it can break the 20 day MA. If it holds the breakout, buy and look for it to hit $103-$105 at the resistance.
The chart tells it all. Fib 1.618 looks interesting for a gap fill Time will tell. Safe trading. @BLawrenceM