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Red Hat, Inc. Message Board

  • nflatit nflatit Dec 30, 2011 9:02 AM Flag

    RHT Breaking down huge volume......Distribution top in....get ready for declines

    Stage 4 decline has begun for RHT ~ Topping Pattern complete.

    heavy volume surges below the 200 & 150 MA is the kiss of death for overpriced high growth stocks.

    Distribution written all over the chart here....Massive volume on the declines, barely a bounce with the market.

    I know the P/E is very high here, but RHT seems poised for a major decline or trend reversal.

    Major support $22.00-$24.00

    Time to lock in profits if you are still long or even get short

    RHT very overpriced & chart broken badly.

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