RHT rises to highest close since July 27th

Red Hat Inc. (RHT) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team


RHT finds support at 200-day moving average
RHT closes higher for the 3rd day in a row
RHT finds buyers again around 143.10
RHT rises to highest close since July 27th
RHT closes within previous day's range after lackluster session


Moving higher for the 3rd day in a row, RHT finished the week 2.68% higher at 144.78 after gaining $0.06 (0.04%) today on low volume. Today's closing price of 144.78 marks the highest close since July 27th. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.

Daily Candlestick Chart (RHT as at Aug 10, 2018):

Daily technical analysis candlestick chart for Red Hat Inc. (RHT) as at Aug 10, 2018

Friday's trading range was $2.53 (1.77%), that's below last trading month's daily average range of $3.35. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being below average.

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Prices are trading close to the key resistance level at 145.85. After having been unable to move lower than 143.07 in the previous session, Red Hat Inc. found buyers again around the same price level today at 143.10. After trading as low as 143.10 during the day, the share found support at the 200-day moving average at 143.26.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Buying might accelerate should prices move above the nearby swing high at 145.85 where further buy stops could get activated. Selling might speed up should prices move below the close-by swing low at 141.59 where further sell stops could get triggered.

Market Conditions for RHT as at Aug 10, 2018

Loading Market Conditions for RHT (Red Hat Inc.)...
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