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Shares of Red Hat Inc Has Risen Above Previous 52-Week High

By Nick Russo

Shares of Red Hat Inc (NYSE:RHT) traded at a new 52-week high today of $165.66. So far today approximately 263,000 shares have been exchanged, as compared to an average 30-day volume of 1.3 million shares.

Over the past year, Red Hat Inc has traded in a range of $68.54 to $165.66 and is now at $164.15, 139% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.8%.

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.

Red Hat Inc (NYSE:RHT) is currently priced 17.0% above its average consensus analyst price target of $136.21. Red Hat Inc shares have support at the 200-day moving average (MA) of $74.78 and additional support at the 50-day MA of $72.59.

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 23.0%. 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