July 11, 2019

Restoration Hardware Restored?

Restoration Hardware (Ticker: RH) has had some hard times this year. After initially starting the year on a nice uptrend, RH got slammed and continued to run lower after the first earnings report of the year. They were continuing lower until the most recent earnings date. RH gapped open higher and has slowly tried to rally back. A major technical hurdle has been in play. The deadly 200-period Simple Moving Average. The last week RH has been trading around this price level but has yet to break free from this range. I think a move is due, and I would like to see the stock move up. I think the true breakout play is north and this stock is overdue for a blowout rally. This is a momentum name and has returned huge gains for early investors. IF RH can close above $123.25 and open above the same level, I think that is when we will see the breakout occur. This is a much watch stock since we are right at this price range. Keep an eye on RH right now. 

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about the author:

Charles Moon

Charles Moon is a technical "whiz kid" whose experience lies in scalp/swing trading. A patient educator, Charles excels at coaching/mentoring and can make complex concepts simple. Prior to joining the ranks of Prosper Trading Academy, Charles was a proprietary equities trader with Great Point Capital LLC. Coming from a retail trading background, his experience can help those with no experience trading to seasoned veterans.

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