Restoration Hardware Holdings Inc (NYSE:RH) Major Breakout Level: See It Here

Restoration Hardware Holdings Inc (NYSE:RH) is jumping today by over 5%. The stock is trading near $39.00 per share. While today’s move is solid, institutional investors are watching the $40.00 break as a key technical level. Note the chart below with the trendline connecting the recent highs. Should that trendline get taken out to the upside, the stock has a possible short squeeze to $52.00. This target level is gap fill on the daily chart.

 

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Gareth Soloway

Chief Market Strategist
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