Restoration Hardware Holdings Inc Stock Forecast
Restoration Hardware Holdings Inc stock price up 1.99% on Monday
(Updated on Apr 22, 2024)
The Restoration Hardware Holdings Inc stock price gained 1.99% on the last trading day (Monday, 22nd Apr 2024), rising from $240.41 to $245.20. During the last trading day the stock fluctuated 3.80% from a day low at $237.66 to a day high of $246.69. The price has been going up and down for this period, and there has been a -11.24% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 57 thousand more shares were traded than the day before. In total, 506 thousand shares were bought and sold for approximately $124.13 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $240.64 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.19% during the next 3 months and, with a 90% probability hold a price between $250.72 and $366.65 at the end of this 3-month period.
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RH Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.99%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Restoration Hardware Holdings Inc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $246.37 and $280.39. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Restoration Hardware Holdings Inc stock
Restoration Hardware Holdings Inc finds support from accumulated volume at $243.73 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $9.03 between high and low, or 3.80%. For the last week, the stock has had daily average volatility of 3.28%.
Restoration Hardware Holdings Inc is oversold on RSI14 (22). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RH) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Restoration Hardware Holdings Inc to open at $243.18, and during the day (based on 14 day Average True Range), to move between $231.64 and $258.76, which gives a possible trading interval of +/-$13.56 (+/-5.53%) up or down from last closing price. If Restoration Hardware Holdings Inc takes out the full calculated possible swing range there will be an estimated 11.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $243.73 (0.60%) than the resistance at $260.48 (6.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Restoration Hardware Holdings Inc stock A Buy?
The Restoration Hardware Holdings Inc stock holds several negative signals and despite the positive trend, we believe Restoration Hardware Holdings Inc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.711 Sell Candidate Unchanged
Predicted Opening Price for Restoration Hardware Holdings Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $243.18 ( 0.82%) | $245.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RH
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 252.21 | 2.86 % | |
| R2 | 248.76 | 1.45 % | ||
| R1 | 246.63 | 0.584 % | ||
| Current price: | 245.20 | |||
| Support | S1 | 239.73 | -2.23 % | |
| S2 | 237.60 | -3.10 % | ||
| S3 | 234.15 | -4.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 302.89 | 23.53 % | |
| R2 | 296.99 | 21.12 % | ||
| R1 | 260.48 | 6.23 % | ||
| Current price | 245.20 | |||
| Support | S1 | 243.73 | -0.600% | |
| S2 | 243.27 | -0.787% | ||
| S3 | 240.41 | -1.95% |
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