RHT closes lower for the 4th day in a row


Red Hat Inc. (RHT) Technical Analysis Report for May 17, 2018

Highlights

RHT finds buyers at key support level
RHT closes lower for the 4th day in a row
RHT breaks below previous session low
RHT falls to lowest close since April 25th
RHT ends the day indecisive

Overview

Moving lower for the 4th day in a row, RHT finished Thursday at 161.08 losing $0.88 (-0.54%). Today's closing price of 161.08 marks the lowest close since April 25th. Closing below Wednesday's low at 161.15, the share confirms its breakout through the previous session's low having traded $1.53 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (RHT as at May 17, 2018):

Daily technical analysis candlestick chart for Red Hat Inc. (RHT) as at May 17, 2018

Thursday's trading range was $2.35 (1.46%), that's below last trading month's daily average range of $3.65. Things look different on a weekly scale, where volatility is way above the markets average with the monthly volatility being slightly below average.

After trading as low as 159.62 during the day, Red Hat Inc. bounced off the key support level at 160.76. The failure to close below the support might increase that levels importance as support going forward.

Though the market is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.


Market Conditions for RHT as at May 17, 2018

Loading Market Conditions for RHT (Red Hat Inc.)...
Latest Report:

RHT pushes through Friday's high

Oct 15, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Red Hat Inc. traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!