Market Overview

Watch for Shares of Red Hat (RHT) to Approach Resistance at $43.87

(via COMTEX News Network)--

SmarTrend has detected shares of Red Hat (NYSE: RHT) have bullishly opened above the pivot of $42.50 today and have reached the first resistance level of $43.05.

We are watching for a cross of the next upside pivot targets of $43.87 and $45.24. Also, the shares are currently trading above the 50-day moving average of $40.77 and above the 200-day moving average of $33.43.

In the last five trading sessions, the 50-day MA has climbed 1.01% while the 200-day MA has risen 1.09%.

In the past 52 weeks, shares of Red Hat have traded between a low of $25.92 and a high of $43.79 and are now at $43.36, which is 67% above that low price.

SmarTrend currently has shares of Red Hat in an Uptrend and issued the Uptrend alert on October 29, 2010 at $42.22. The stock has risen 0.1% since the Uptrend alert was issued.

Write to Chip Brian at


SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit

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