RH sharpens decline - Analysis - 01-07-2022

RH's stock declined 10.56% in the last session, or 25.06 points, piercing the support of 236.30, and settling at 212.26, with trading volumes surpassing 3.3 million shares, above 10-day averages of million shares, as the company expects yearly earnings to fall by 5%. 

The main downward trend dominates in the medium and short terms, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.

Therefore we expect more losses for the stock, targeting the first support at 188.40, provided it settles below 236.30. 

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Expected trend for today: Bearish