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Red Hat Bullish Moving Average Crossover Alert (RHT)

By Nick Russo

Today, shares of Red Hat (NYSE:RHT) have crossed bullishly above their 10-day moving average of $89.71 on a volume of 294K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Red Hat share prices have moved between a 52-week high of $92.49 and a 52-week low of $59.59 and are now trading 51% above that low price at $89.98 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 0.2%.

SmarTrend recommended that subscribers consider buying shares of Red Hat on January 25th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $76.50. Since that recommendation, shares of Red Hat have risen 14.8%. We continue to monitor RHT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses red hat

Ticker(s): RHT