RH trade ideas
Weekly cup and handleTaking a look at restoration warehouse on the weekly charts. Looks to be a nice cup and handle forming. Last year price tested a breakout over $110, but could not sustain a close over and since has pulled back.
As of late price has traded nicely in the smaller channel I have drawn with trend lines. Looks to be flagging and presenting the handle for the cup.4 weeks ago we saw a nice push up which has set up an inside bar play as well. Price has since traded inside that weeks range for the last 3 weeks.
I am looking to get long between $80-$74 dollar price range. I will most likely layer my position in that range with a calculated stop of 1% total risk of my portfolio. If I do not get an opportunity to get the desired fills I will take a half position on the breakout of the trend lines while adding the last half on a breakout of $110. I want to be patient and either get the fill at value or play the breakout. what I do not want to do is rush and get a fill now to only have price go lower and possibly stop out before ever getting to a desired location.
If price does come to this range it will be coming to test the lower TL of the larger channel running from mid 2016. If price is to bounce it should provide at least a decent short term return.
Ideally I would be looking to hold this long term as we are playing the weekly chart and the completion of the cup and handle should bring solid long term gains. Once my position is full I will be taking profits at calculated targets and employing a wide trailing stop. If this idea comes to fruition I will update with position ave, targets, and strategy for my stop. Thank you all for viewing.
RH breaking over key rangeRH 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.
Swing on RHDefinitely would wait for a red candle. This one has a huge upside in it. I would only purchase 8 shares of this one for a $20 risk.
RH on watchRH around critical area of 200 MA and 20 MA lines. Watching for a break above or a rejection and back to downside.
RH- Beautiful Bearish Pin-bar SetupWill look for bearish setups on lower time frames at this time. Love, high time frames with either (Harami, Pinbar or Engulfing reversal candlestick setups). Will be looking to do put option trades and/or sell this stock for rest of July and into August. $70.00 looks great for 1st support area, at this time.
RH Short due to Competition Value and Over Extensive RunAlden Investments believes that this run won't continue for many reasons. The main thing that bothers us with this is the pure overvaluation baked in. Given the value of this company and a 42% short, we don't see this run still going. The reason we'll argue otherwise is simply speculative traders and algorithm trading bots. RH has decreasing margins and we don't feel as if they'll get any better throughout the rest of the year due to the seasonal changes as well as competition squeezing business.
$RH approaching major resistance at 44.69.$RH approaching major resistance at 44.69. Has moved 80% in 7 weeks!
RH Swing Trade (Short)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 - Long from 30.24RH 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: Running (Opened 6th Jul)
