$RH Breakout$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.
RH trade ideas
RH - Gap fill for a bounce ?The chart tells it all.
Fib 1.618 looks interesting for a gap fill
Time will tell.
Safe trading.
@BLawrenceM
Trader Rolling their Position from Bullish March until AprilRestoration Hardware Holdings, Inc., together with its subsidiaries, engages in the retail of home furnishings. It provides bedroom, dining, upholstery, home office, and media furniture products and has over 2,100 full-time employees in the Services sector. Today, we saw a trader sell their March 55 Calls that they were long and buy the April 65 Calls. This is a bullish trade and I think the stock will move higher with this Unusual Options Activity. This was 4.2 times usual volume traded in a day. If I did not want to put on a bullish trade via options I could buy the stock with a $6 stop, under the Ichimoku Cloud. Possible Trading Ideas:
Buy Stock: $65.38
Stop: $59.38
Target #1: $68.38
Target #2: $71.38
Stop at Breakeven when Target #2 is hit:
Target #3: $74.38
Target #4: $77.38
Strong upside with RHStock filled gap, multiple confluence support, bullish divergence, low risk entry point
Upside target 90ish in 2 months
