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Red Hat Inc Set to Possibly Pullback After Yesterday's Rally of 1.08%

By James Quinn

Red Hat Inc (NYSE:RHT) traded in a range yesterday that spanned from a low of $173.01 to a high of $175.61. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $173.39 on volume of 570,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Red Hat Inc has traded in a range of $86.26 to $175.61 and is now at $174.77, 103% 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: rebounders red hat inc

Ticker(s): RHT