RH (RH) stock is up sharply this Friday on news that Warren Buffett's Berkshire Hathaway (BRK.A) (BRK.B) revealed a new position in the company formerly known as Restoration Hardware. Let's take a look at the charts and indicators of this specialty retailer.
In the daily bar chart of RH, below, we can see that prices have been in an uptrend since late May/early June. Prices are above the rising 50-day moving average line after several tests of the line earlier this month. The slower-to-react 200-day line is also shows a positive slope.
The On-Balance-Volume (OBV) line shows a very strong advance from early June telling us that buyers (perhaps Mr. Buffett) have been more aggressive.
The Moving Average Convergence Divergence (MACD) oscillator has been above the zero line since June and is now narrowing towards a fresh outright go long signal.