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Red Hat Makes New All-Time High And Retreats

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Red Hat Inc (NYSE: RHT) shares are trading higher by $2.31 at $81.17 in Friday's session. A Q3 beat of a penny with inline sales and slightly higher guidance propelled the issue to a new all-time high.

After opening at its former all-time high ($83), it continued to rally before finding sellers at $83.99 and reversing course. So far, the ensuing decline has taken the issue to $80.45 before rebounding back over $81.

In order to post a new all-time closing high, the issue must close above its November 25 high ($82.52).

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