Just noticed RH hitting some interesting technical levels on the charts. The stock dropped hard enough to trigger an RSI reading of 29.1, which technically puts it in oversold territory. That's the kind of signal where you remember Buffett's old advice to be greedy when others are fearful, right? When a stock gets beaten down this hard, fear tends to take over.

Looking at the numbers, RH touched $155 at one point and is sitting around $160 now. Compare that to the 52-week range of $123 to $326 and you get a sense of how far it's fallen. Meanwhile SPY is cruising at an RSI of 47, so there's a pretty stark contrast in momentum here. The selling pressure on RH looks like it might be reaching exhaustion.

This is exactly the kind of setup where contrarian traders start watching for entry points. When the crowd panics and oversells something this badly, that's when you be greedy when others are fearful. The technical picture suggests the recent wave of selling could be losing steam, which might create opportunities if you're looking to nibble on a position. Worth keeping on the radar if you're into value plays.