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Shares of Red Hat Inc Fall Below Previous 52-Week Low

By Amy Schwartz

Shares of Red Hat Inc (NYSE:RHT) traded today at $116.55, breaking its 52-week low. Approximately 500,000 shares have changed hands today, as compared to an average 30-day volume of 2.3 million shares.

There is potential upside of 44.2% for shares of Red Hat Inc based on a current price of $118.38 and an average consensus analyst price target of $170.76. The stock should run into initial resistance at its 50-day moving average (MA) of $140.04 and subsequent resistance at its 200-day MA of $146.45.

Red Hat Inc share prices have moved between a 52-week high of $177.70 and the current low of $116.55 and are currently at $118.38 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.9%.

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.

SmarTrend is tracking the current trend status for Red Hat Inc and will alert subscribers who have RHT in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows red hat inc

Ticker(s): RHT