Looking for a place to rest/ Try sitting in a chair by Restoration Hardware ($RH) (May 22, 2020)RH SPY QQQ RH
Restoration Hardware ( NYSE: RH ), this is a real interesting thing. A lot of the big retailers got really crushed and this is one of them. People think that everyone wants to buy that expensive crap. And so the stock is moving higher, it is just above the 200-day moving average.
It broke out yesterday; this was on really good volume. Earnings are on the 10th so about 18 days or so, something like that. The way this stock is trading, though, it is holding above the 8-day moving average and so this is really a short-term trade idea.
I think you can be buying the stock here and then if the stock breaks the 200-day moving average and closes above the 200-day moving average, that’s a stock that I think you can buy and it will have some pretty good price potential before earnings. We’re on a really nice run and the fact that this ( NYSEARCA: SPY ) is up today, over 4 percent and the S&P ( INDEXSP: .INX ) is actually down. Even the QQQs ( NASDAQ: QQQ ) are kind of barely up.
You’ve got Restoration Hardware ( NYSE: RH ); this is a stock that is being bought. I took a position in it, a fairly small one, yesterday and this is exactly what I intend to do: If the stock breaks above 200.00 I will go ahead and buy more; so that might be a trade that works for you.