Looking For Some Upside In Restoration Hardware

Looking For Some Upside In Restoration Hardware

On 3/26 after the close Restoration Hardware reported their earnings for the 4th quarter.  After an initial move lower the stock settled 4.78% higher the next day and peaked at 102 two days later. Since then the stock has moved lower and its currently down 5 days in a row to its 20 day moving average and to possible support from two trendlines as you can see in the chart below.  This set up would be extremely interesting to me if it can get above today’s high, if does that, I believe one can go long for a swing trade with a stop at today’s low.  Any type of momentum can spike the stock higher quickly due to the fact that 27% of Restoration Hardware’s float is short.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

By |2018-02-02T12:10:23+00:00April 8, 2015 11:37 am|

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