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myceliium
Mar 26, 2021 3:06 PM
RH: Cycle completion after earnings rally?
Short
NYSE:RH
240
RH
NYSE
Description
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Mar 26, 2021 3:06 PM
quicklook: High probability that RH has come to the conclusion of its year-long rally. Long-term outlook on the left, short-term on the right.
Since this idea covers weeks-months, won't go too in-depth but will try to post weekly updates
Entered short position. on the pop to 575. Let's see how this goes
Trade closed: stop reached
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Apr 6, 2021 8:31 PM
Forgot to update this one - still exploring the bearish trade for the long term but the low float here could carry RH to 2.618 fib level (~630)
Wave Analysis
Trend Analysis
Elliott Wave
Comments
gsenthilanand
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Apr 6, 2021 8:10 PM
Hi
@myceliium
,
Is this strategy still valid ?
myceliium
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Apr 6, 2021 8:30 PM
@gsenthilanand
, I closed my short position and have been watching for a re-entry. At the moment the long term strategy is valid but RH could rally to 630 in the short term considering the low float
gsenthilanand
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Apr 7, 2021 1:20 AM
Thanks
@myceliium
.
myceliium
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Apr 19, 2021 11:23 PM
@gsenthilanand
, with RH @ 640 I have began to reconsider the short position. I would say this is a much safer place to enter a bearish position
gsenthilanand
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Apr 20, 2021 1:49 AM
@myceliium
, Thanks a lot for remembering to update this post on current setup.
Would you recommend a PUT or going short on common stock ?
myceliium
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Apr 20, 2021 1:51 PM
@gsenthilanand
, I mainly trade option so the 600P 6/18 is looking most attractive to me right now
mhmokhtari2000
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Mar 28, 2021 12:20 AM
agree
More
Is this strategy still valid ?