Market Overview

Red Hat: The Trend Continues Higher (RHT)

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SmarTrend identified an Uptrend for Red Hat (NYSE: RHT) on October 29, 2010 at $42.22. In approximately 1 month, Red Hat has returned 11% as of today's recent price of $46.87.

In the past 52 weeks, shares of Red Hat have traded between a low of $25.92 and a high of $46.25 and are now at $46.87, which is 81% above that low price.

Red Hat is currently above its 50-day moving average of $41.32 and above its 200-day moving average of $33.83. Look for these moving averages to climb to confirm the company's upward momentum.

In the last five trading sessions, the 50-day MA has climbed 1.12% while the 200-day MA has risen 0.94%.

SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any shifts in the trajectory of Red Hat shares.

Write to Chip Brian at cbrian@tradethetrend.com

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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 http://www.mysmartrend.com

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