$RH Restoration Hardware major earnings beat yesterday. This is just an observation. I would not advise shorting this, but in my opinion $158-$159 range could prove to be the short term top. This is not investment advice.
Taking a look at restoration warehouse on the weekly charts. Looks to be a nice cup and handle forming. Last year price tested a breakout over $110, but could not sustain a close over and since has pulled back.
As of late price has traded nicely in the smaller channel I have drawn with trend lines. Looks to be flagging and presenting the handle for the cup.4...
RH after pr/earnings report had a large gap in the beginning of September. After that gap there was 0 follow thorugh the gap range just held in a tight box. Today the top of the box has broken and if it can close this way we should get a run to the 80s.