Long $RH Idea

RH's ( RH ) stronger-than-expected fiscal Q1 results featuring "beats across the board and demand at record levels" signal more gains in 2021 and beyond "on a slew of initiatives to drive growth," BofA Securities said in a research note.

  • Following a strong earnings , RH has consolidated for a few months accumulating institutional buying.

  • If RH closes above 723 on the weekly timeframe , this will confirm a breakout.

  • With lumber and housing market coming back to more normal levels; new housing projects lead to furbishing with upscale furniture which RH provides.

    This trade is for traders looking to take a bullish position. December 800c are a go after confirmation.

    Best of Luck!

Daniel Betancourt
OptionsSwing Analyst

Education first, profits second.

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