Redhat RHT shares are trading lower by $2.67 at $73.04 in Wednesday's session. The Street is not impressed with its Q4 EPS beat of nickel with a slight beat for revenues. Also, the company issued strong guidance for FY 2017.
After a lower open, it rallied and found resistance just above the lower-end of Tuesday's range ($74.45), reaching $74.75 before continuing lower.
The ensuing decline has found support in the area of a series of four lows from mid-March in the $71 handle at $71.68 and is attempting to remain in the $73 handle.
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