Thu. Feb 29th, 2024

Restoration Hardware Holdings, Inc. (RH:NYSE) has a choice to make. Either a bullish breakout above 101 and it’s ensuing target at 116 OR the bearish breakdown below 86 and it’s 71 target. Check out the monthly candle chart below. A monthly candle close is necessary to confirm the break. Check my “How To” for more insights on my trading framework.

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The weekly candle chart show more of the same.

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A final zoom in on the 1 year daily candle chart. Some noise above the breakout line which could of whipsawed you. Check my concept of “noise reduction” to help avoid these.

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The price action is approaching the bullish breakout. My alerts are set. Let’s wait and see.