RH Possibly Continuing Uptrend to Higher Levels
Restoration Hardware closed positive on Friday after Trump's trade meeting with China. RH received about 41% of its products from China during the last Fiscal year, so any tariffs on products would significantly effect the value of the stock.
With that said, with the positive news coming about a trade deal, RH looks ready to continue its uptrend movement. On a daily chart, the MACD shows that RH is about to cross in a bullish movement; but with a RSI value of 70, this indicator is showing that RH is overbought.
My plays..
Place Stop Limit buys @182.33 | This Buy is set above RH's ATH, allowing the stock to confirm an upward trend before entering the trade.
Profit zone: $188 +
Use a Trailing Stop loss to Lock in profits.
CAUTION: Because RH is so dependent on China, any new news about the trade war can break the trend and send it back into lower levels.
With that said, with the positive news coming about a trade deal, RH looks ready to continue its uptrend movement. On a daily chart, the MACD shows that RH is about to cross in a bullish movement; but with a RSI value of 70, this indicator is showing that RH is overbought.
My plays..
Place Stop Limit buys @182.33 | This Buy is set above RH's ATH, allowing the stock to confirm an upward trend before entering the trade.
Profit zone: $188 +
Use a Trailing Stop loss to Lock in profits.
CAUTION: Because RH is so dependent on China, any new news about the trade war can break the trend and send it back into lower levels.
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