RH ShortIt's gonna be just a one day play, had to short something I guess, bad habits die hard.
RH isn't tied to any indices.... and I'm flipping these puts tomorrow, win or lose.
RH trade ideas
RH - Update 2 continuationWe continue to review the chart of RH, this time across multiple time frames
Please read my previous posts on RH as well as a lot of pints are covered on what is view that has been forming over the last few sessions
The negative news from China because of the deadly virus has affected the stock markets too (we pray for the well-being of all mankind)
RH is one of the stocks that would benefit a lot from the positive news from China.
In the above context, you could see some reasons why the
If you see the daily time frame chart, you can see, that the most recent 30 min chart also confirms a sideways market
On the 30 min chart, we can 219.25 is acting as a nice support level and there is strong resistance at 228.40 levels and 229.76. Price will also get resistance at 224.21 on 30 min charts
A close look at the daily charts will suggest the below
1. Imp Support at 219 levels and the next support that’s strong is then at around 209 levels
2. 229 level has been an important zone last year and has been acting as an importance resistance zone this year
Look out for my new post on CQQQ (china fund) to see more on what to expect on the china Tech front) proxy to how china could move
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Cheers
Trade Journal: Long RH - 1/16/2020I started a position on RH based on some nice patterns on the Daily Chart. RH had been in a pullback phrase after making new all time highs in December. On 1/13/2020, RH pulled into and rejected two different key support levels - the 50% Fibonacci Retracement level and the 50DMA Pivot. A hammer also forms on the 30m timeframe where these two key levels are rejected. I initially wanted to go long when RH rejected this key level, however the R:R was not favorable at the time. Today I went long when RH broke out and consolidated above the Flag Pattern on the daily chart. I plan to take profits at all time highs and move stop to breakeven after taking profits.
Entry - 222.19
Stop Loss - 216.50
Target 1 - 240
Target 2 - 250
RH - Update 1NYSE:RH
Update on price action on RH, as promised, we are tracking tis very closely as this trade, I feel, I has good potential and we are nearing an inflection point
I have laid out a series of price points which in the history of the stock price movement have acted as support/ resistance and its good to know these levels as important areas of congestion and times to have appropriate risk management tools around it
For those who have not read my previous posts on RH, lines covered in Red are past Res/ Sup lines. Important lines are :
1. CLOSE Above $229.64 (Previous price action high, signaling momentum in favor)
2. CLOSE Below $219.34 will negate our proposition to go long for the time being (previous low of most recent price action)
3. $244 would be the first target which may act as resistance levels ( previous peak)
4. $270 levels may be the 2nd target on the charts
I have also drawn a trend line when the stock moved into uptrend from mid 2019
In Nov 2019. The price broke below the trend line suggesting uptrend maybe over , however, it turned out to be a fake break out, hence the need to the price retesting and being rejected in important for a conservative trader
In the months of Nov and Dec, we saw price moving back above the trend line and find ing support in Dec 2019, with a nice bounce off the trend line.
At the end of Dec 2019, price again moved out below the trend line again and is trying to test the trend line again. Price can either be rejected from these levels or this could also be a fake break out.
The break out above 229.64 is critical on both fronts, it pushes us above the most recent price action high , as indicated in the charts and also pushes us above the trend line
Lets look at yesterdays price action: 17th Jan 2020
Bears, knowing that trend line has been broken, opened the day lower than previous day closing, suggesting their intention clearly that they wish to pull the prices further down. Bulls, however wanted to prove their supremacy and wanted to show their command on the field and pushed prices upwards.
Price made an intra-day high of $229.70,, which is above our entry point, however, couldn’t sustain the bears attack and bulls lost command, with price ending lower and the candle closing in red!
Its so important to look out for the close of the candle (in our case, close of the day, to be above our entry point. Yesterdays Intra-day highs could have given us wrong entry points.
Think about it this way. The reason to chose $229 levels as our entry point to buy on a future date, when the price was at $221 levels, was to have a day close above 229 to signify that a new high in recent price data has been made and previous highs may become support and also get a chance to review the candle on closing to identify strength of the market participants
In case we were to put a limit order and would have entered our position yesterday and order being executed, we would not have got a chance to review the candle.
Food for thought : This is just the beginning. What do you think. Who will win this battle between the bulls and bears. pLease share your comments below, it will be nice to hear your comments
Cheers
RH - positive and likely uptrend continuation - cyclic toolsNYSE:RH
This time its time to look at RH
RH has been moving upwards and forming an uptrend since early June 2019.
A quick look on the chart and we can establish a few key support/ resistance lines
Support 1 : 218.23
Support 2 : 206.60
Support 3 – 192.12
Support 4 : 171.34
Resistance – Stop buy entry level : 228.72
Resistane 2: 243.84
There seems to be chart formation happening. On breakout above 229, one could expect a continuation of trend
Upward Price target- 270
Interestingly, price seems to be making a trough or a intermediate corrections on the trend every 14 days. If this is the case, then yesterdays price close could be a near time low for the 14 day cycle. Next important day to look for is 30th Jan and then 13th Feb 2020 for next low on the cycle.
Interesting times ahead given that US and China trade wars seems to be moving in the positive direction
Please note this is not an offer to advisory, please consider account size and risk management tools
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RH - buy set upThis is a continuation of my previous chart. I am providing an update and will do that regularly on this chart as this is a set up stage and we are in a very interesting timezone for this stock.
The important number for us to look for closing price on this chart is 219.39 on support and 229.64 for positive breakout confirmation.
Price opened at 221.83 quickly fell to a low of 218.22, but the bulls pulled the prices higher and the day closed stronger at 223.28
The area we find ourselves is a strong congestion zone where we have seen price finding a lot of small real bodies floating around signaling lack of control on either side. Traders have felt confused with the lack of clear direction and as expected, volume in this zone of trading has been lower than normal.
Lets’ look ahead, I have my eyes on the magic number of 229.64 for a breakout to seek further action for my upside target
Target 1 : 244
Larger 2 : 270-275 levels
Please share a thumbs up if you like what you see and you could also share your comments in the section below
Cheers
RH Possible Short OpportunityDescending Triangle. Lower Highs longer term vs the . Started with a bearish harami.
RSI stuck in the middle.
MACD is looking to turn positive on the daily, but without anything to really boost it, it could be short lived. 2 hr and 4 hr MACD are both looking weak 2 hr with a pop of strength just now, 4 hr still looking for red. Weekly MACD is also looking to go red.
May see a fake out on daily temporarily.
Being around ATH not a lot to draw on for supports, what I can find are the dashed lines. $189.91 with minimal support, $173.93 with much more support and just follows gap fill at $175 and change.
This is not advice.
Fakeout over next day or 2 is entirely possible then a drop to or below support at $207. If it proves to be a descending triangle, would expect it to break below. $228 and change would invalidate the lower highs and possibly the triangle.
[Long idea] RHInteresting pump into the close, almost exactly like last time.
Will it drop, or will the larger bull flag break out? Or both?
I think it is a BUY here with tight risk management.
$RH Trading in a descending channel$RH bouncing off support, possibly putting in an inverse head and shoulder, needs to breakout if it wants to flex its muscle to run higher.
High RR - High Momo7/Jan/2020 07:02 PM AUTHOR: Brandon Gum
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2 targets different with 2 different stop losses.
I think retest and brief failure at 0.618 retrace is possible. Ultimately could test highs again.
Careful of choppy sideways action if momo is not immediate.
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Restoration Hardware Potentially Bearish Short Term$RH looks to retest $205-207 and potentially $200 back to the red trendline.
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Alex Vieira Upgrades RH to Strong-Buy $86 Using Tesla Algorithm RH was upgraded to Strong-Buy at the same time that Tesla was upgraded to Strong Buy $179 making it available in real-time to investors worldwide interested in algorithm trading
RH needs a PullbackLooks like a risky hold into earnings , after climbing over 100% since the summer.
The RSI is showing bearish divergences and volume coming into earnings is dwindling.
Momentum has been exceptional and a certain amount of FOMO has helped on the news Mr Buffet was building a position.
Its seems a little unfair that the masses have just made him millions by bolstering his trade.
$RH 12-1 AnalysisAnother name with Earnings on Wednesday. sitting right now at the 1.5 extension and most likely will stay between 200-208 or so until earnings. Very strong moving stock on Earnings so can be bloody if numbers aren't met, especially here at ATHs. EPS expected to be up 28%. Expecting a drop or sidways movement here. Best option would be Call Credit Spreads January EXP. look to target 184 or so with a continual move down to 165 range after if numbers very bad. Give it time to play out and reset weekly RSI on way down.
RH confirming this weekIf this is in fact will play out. Overbought on RSI and on MFI. MACD weakening. Increase in selling pressure EOD to bring RH down from closing at ATH.
Could pop Monday and or Tuesday to new ATH before dropping.
Pop is from news of Buffett buying into RH.
Better view on 1 and 2 hr. But DYOR.
looks like this coulda possibly been a cup and handle with a gap since it has minimum 7 sessions with low trading volume. If this drops we'll prob see like 200 (small wedge + coming out of a bullish cup and handle)
RH The Oracle Knows more than we do. Bullish.Entry level $193.00 = Target price $212.00 = Stop loss $190.00
RH - Did you Listen to the Earnings Call??Wow what an amazing earnings call! I encourage everyone to do their own research including listening to earnings calls. This was a massive beat and raise full year guidance and a ton of optimism for international expansion. My targets are on the chart, but technically speaking, this stock could double its current price especially with YOY sales growth and a massive 42% margin on products. If the weekly candle closes above its previous all time high, I might be adding positions. More to come!
Be sure to drop a like and follow for more ideas and updates!
RH Break DownBroken out of ascending wedge. MACD turning over, RSI still high with divergence, MFI dropping. Targeting support at 174.
