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Double Bottom Nears On $RH Do Investors Buy It?

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

The stock price of Restoration Hardware Holdings, Inc (NYSE:RH) continues to decline. Today, it closed lower at $26.09, -1.00 (-3.69%). The stock chart is now approaching a double bottom support level at $24.85. This was the low from mid-June, 2016 and the lowest price on Restoration Hardware in years. So do investors buy this major double bottom support? I can only express to you my personal opinion. In my opinion, it can be bought for a quick swing trade bounce. Look for a 10% bounce in the stock and then exit immediately. Why don't investors want to hold Restoration Hardware for the long term? Simply put, the price action of the stock is extremely bearish. That is contrasted with the bullish stock market. If it cannot get a bid in this amazing market, it does not signal long term upside yet. Trade it, don't invest in it.

View my trades and Verified performance right now, click here. Simply join Verified Investing for free and anytime I buy a stock/ETF, you will get an email. You can then opt-into the trade getting my exact entry price, target and stop. Those who take my trades, only reward me (a Verified Trader) with a few Dollars IF they get big winning trade information.

Investors and stock traders analyze Restoration Hardware


This article was written by ST G for on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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