Dec. 25 at 3:38 PM
Actionable Trade Alert for
$RH:
Market Context:
$RH is currently trading at
$182.98, showing strong momentum but is overbought with an RSI of 74.75. The stock is above its 30-day MA of 159.86 and 50-day MA of 165.65, indicating bullish sentiment. However, the high of
$212.36 from the last 60 days suggests potential resistance.
Directional Bias: Given the high RSI and current price near the 60D high, a pullback may occur. However, the overall trend remains bullish, and we can capitalize on potential upward movement before any correction.
Trade Plan:
- Suggested Entry:
$182.98
- Stop Loss:
$173.00 (approximately 5.5% below entry)
- Take Profit Targets:
1. Target 1:
$195.00 (6.6% gain)
2. Target 2:
$205.00 (11.5% gain)
3. Target 3:
$214.00 (17% gain)
Monitor price action closely, especially around resistance levels. Adjust stop loss to lock in profits as targets are reached.
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