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

By Amy Schwartz

Shares of Red Hat Inc (NYSE:RHT) traded at a new 52-week high today of $106.55. This new high was reached on below average trading volume as 343,000 shares traded hands, while the average 30-day volume is approximately 1.3 million shares.

There is potential upside of 0.6% for shares of Red Hat Inc based on a current price of $106.39 and an average consensus analyst price target of $107.04. 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.

In the past 52 weeks, shares of Red Hat Inc have traded between a low of $68.54 and a high of $106.55 and are now at $106.39, which is 55% above that low price. Over the past week, 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.

SmarTrend recommended that subscribers consider buying shares of Red Hat Inc 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 Inc have risen 38.8%. 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