We continue to review the chart of RH, this time across multiple time frames
Please read my previous posts on RH as well as a lot of pints are covered on what is view that has been forming over the last few sessions
The negative news from China because of the deadly virus has affected the stock markets too (we pray for the well-being of all mankind)
RH is one of the stocks that would benefit a lot from the positive news from China.
In the above context, you could see some reasons why the
If you see the daily time frame chart, you can see, that the most recent 30 min chart also confirms a sideways market
On the 30 min chart, we can 219.25 is acting as a nice support level and there is strong resistance at 228.40 levels and 229.76. Price will also get resistance at 224.21 on 30 min charts
A close look at the daily charts will suggest the below
1. Imp Support at 219 levels and the next support that’s strong is then at around 209 levels
2. 229 level has been an important zone last year and has been acting as an importance resistance zone this year
Look out for my new post on CQQQ (china fund) to see more on what to expect on the china Tech front) proxy to how china could move
If you like what you read, share a thumbs up!
Please follow for regular updates
Cheers
Please read my previous posts on RH as well as a lot of pints are covered on what is view that has been forming over the last few sessions
The negative news from China because of the deadly virus has affected the stock markets too (we pray for the well-being of all mankind)
RH is one of the stocks that would benefit a lot from the positive news from China.
In the above context, you could see some reasons why the
If you see the daily time frame chart, you can see, that the most recent 30 min chart also confirms a sideways market
On the 30 min chart, we can 219.25 is acting as a nice support level and there is strong resistance at 228.40 levels and 229.76. Price will also get resistance at 224.21 on 30 min charts
A close look at the daily charts will suggest the below
1. Imp Support at 219 levels and the next support that’s strong is then at around 209 levels
2. 229 level has been an important zone last year and has been acting as an importance resistance zone this year
Look out for my new post on CQQQ (china fund) to see more on what to expect on the china Tech front) proxy to how china could move
If you like what you read, share a thumbs up!
Please follow for regular updates
Cheers
