RED HAT INC (RHT) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:RHT -
Taking everything into account, RHT scores 8 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, RHT is showing a nice and steady performance.
Besides having an excellent technical rating, RHT also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 187.75. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 187.59, a Stop Loss order could be placed below this zone.
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171.21
When analyzing the support we can see 2 important areas.
- A support zone ranging from 182.90 to 187.59. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 172.94 to 173.46. This zone is formed by a combination of multiple trend lines in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 187.75 to 188.45. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for RHT is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for RHT is up. |
| ChartMill Relative Strength | 89.09 | POSITIVE | RHT has a high relative strength, it outperformed 89.09% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of RHT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of RHT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of RHT is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 59.06 | NEUTRAL | The RSI value for RHT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.04 | NEGATIVE | The MACD value suggests RHT has a negative trend. |
| Stochastics (14,3) | 56.59 | NEUTRAL | The Stochastics value for RHT is a neutral value. |
| Average True Range in percent/ATR (20) | 0.49 | LOW VOLATILITY | The low ATR as a percentage value for RHT suggests low volalility. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 188.46 | 186.79 | 1.67 (0.89%) | 25.00% |
| An entry @188.46. This is a Buy Stop order right above the resistance zone. | An exit @186.79. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 1.67 points, which is 0.89%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.22%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
187.71
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RED HAT INC / RHT FAQ
Can you provide the ChartMill technical rating for RED HAT INC?
ChartMill assigns a technical rating of 7 / 10 to RHT.
What is the current trend direction of RED HAT INC (RHT) stock?
The current trend direction for RED HAT INC (RHT) is Bullish.
What is the RSI signal for RED HAT INC (RHT) stock?
RED HAT INC (RHT) has an RSI value of 59.0621. This indicates that the stock is currently neutral.
Can you provide the MACD signal for RED HAT INC?
The MACD indicator for RED HAT INC (RHT) has a value of -0.0351172, indicating a bearish trend.
Can you provide the buy/sell signal for RED HAT INC?
The buy/sell signal for RED HAT INC (RHT) is buy as both the short term and long term trends are positive.