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Tuesday, April 25, 2017

RH – Restoration Hardware Holdings – Stocks Trade Idea

Trade Ideas technology tells us that stocks with high short floats that trade above their respective 52 week highs continue to perform well for days after the initial 52 week breakout. Right now, RH is resting and consolidating under the 52 week high with a short float of 65%. The position in RH will be considered live above 48.91 as the Trade of the Week.

The suggested stop for this trade is 44.25. The suggested target is nothing more than higher prices as the short sellers who were too stubborn to cover before 48.91 will drive the price higher until the pain is no longer forcing them to buy. Your job is to manage risk and/or sell along the way of new 52 week highs as they develop.


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