If you give it time, usually you will get a good enough drop...May 7th $650 for $1.40, if it pulls back could double easy. Not very liquid, got to be willing to lose it all...
quicklook: High probability that RH has come to the conclusion of its year-long rally. Long-term outlook on the left, short-term on the right.
Since this idea covers weeks-months, won't go too in-depth but will try to post weekly updates
Entered short position. on the pop to 575. Let's see how this goes
The PEAD projected a Bullish outlook for $RH after a Positive Under reaction following its earnings release placing the stock in drift A
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Ascending Triangle, awaiting confirmation (44%)
Pros:
Descending volume during formation
Volume at break out
Golden cross in blue
PPS above 50MA and 200MA
R/R ratio above 9
RS above 0
200MA ascending
250RSI above 50 and ascending
ATR ascending
Cons: RS Flat
Target:
PT = 751.60$
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Prices marked and gl.
Soared this week with most retail store stocks. It's been trading sideways in consolidation(Purple box) since around the end of December.
If you look at the RSI , you'll see it Broke its down trend line on March 16th and has alot of room to go I'll be looking for an entry above 524 (Yellow line). Any continuation on to the next Targets (greenlines) would...
RH has been on nice uptrend for a while now. Broke through channel divider (Redline) and if history repeats its headed to the top. Volume was higher then the day before and that's what you want to see when a stock is making new highs. Targets are greenlines.
