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Recent 52-Week High Exceeded in Shares of Red Hat Inc (RHT)

By James Quinn

Shares of Red Hat Inc (NYSE:RHT) traded at a new 52-week high today of $174.67. So far today approximately 276,000 shares have been exchanged, as compared to an average 30-day volume of 1.6 million shares.

Red Hat Inc (NYSE:RHT) defies analysts with a current price ($173.54) 1.6% above its average consensus price target of $170.76. The stock should discover initial support at its 50-day moving average (MA) of $163.00 and subsequent support at its 200-day MA of $135.78.

Red Hat, Inc. develops and provides open source software and services, including the Red Hat Linux operating system. The Company's web site offers information and news about open source software and provides an online community of open source software users and developers.

Over the past year, Red Hat Inc has traded in a range of $86.26 to $174.67 and is now at $173.54, 101% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has risen 0.7%.

SmarTrend recommended that subscribers consider buying shares of Red Hat Inc on February 14th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $132.64. Since that recommendation, shares of Red Hat Inc have risen 30.4%. We continue to monitor RHT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows red hat inc

Ticker(s): RHT