On 3/26 after the close Restoration Hardware reported their earnings for the 4th quarter. After an initial move lower the stock settled 4.78% higher the next day and peaked at 102 two days later. Since then the stock has moved lower and its currently down 5 days in a row to its 20 day moving average and to possible support from two trendlines as you can see in the chart below. This set up would be extremely interesting to me if it can get above today's high, if does that, I believe one can go long for a swing trade with a stop at today's low. Any type of momentum can spike the stock higher quickly due to the fact that 27% of Restoration Hardware's float is short.
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Wednesday, April 8, 2015
Looking For Some Upside In Restoration Hardware
"Frank began his career on Wall Street nearly two decades ago. He worked alongside some of the most respected traders on the street. He quickly realized his true talents were in his ability to interpret market technicals as well as behavior. He was a full-service broker until 2011 when he decided that his no-nonsense approach and expertise was better suited as an independent rather than under the reins of the brokerage business. Since his transition, Frank founded Zor Capital LLC and had successfully managed the portfolios of high net worth individuals. Outside of the cliche cookie cutter approach. His achievements and advice have been featured by CNBC, FOX Business, Yahoo Finance, Benzinga, Wall Street Journal, and CNN Money. Frank is widely regarded as an influential trader in the industry."