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myceliium
26 mar 2021 15:06
RH: Cycle completion after earnings rally?
Short
NYSE:RH
240
RH
NYSE
Opis
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26 mar 2021 15:06
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
Transakcja zakończona: osiągnięto poziom stop
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6 kwi 2021 20:31
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
Komentarze
gsenthilanand
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6 kwi 2021 20:10
Hi
@myceliium
,
Is this strategy still valid ?
myceliium
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6 kwi 2021 20:30
@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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7 kwi 2021 01:20
Thanks
@myceliium
.
myceliium
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19 kwi 2021 23:23
@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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20 kwi 2021 01:49
@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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20 kwi 2021 13:51
@gsenthilanand
, I mainly trade option so the 600P 6/18 is looking most attractive to me right now
mhmokhtari2000
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28 mar 2021 00:20
agree
Więcej
Is this strategy still valid ?