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Red Hat Inc (RHT): Moving Average Crossover Spotted

Zacks Equity Research

Red Hat Inc (NYSE:RHT) may be a solid choice for technical investors, as the firm saw some good news with its moving average crossover. RHT just saw its 50 Day Moving Average break out above its 200 Day Simple Moving Average, meaning that there could be some short-term bullishness for the stock.

You could definitely argue that this has already started to take place, as shares of RHT have jumped by 21.1% in the trailing 4 weeks. If that wasn’t enough, the company currently possesses a Zacks Rank #2 (Buy), so it could have more room to run in the weeks ahead too.

RED HAT INC (RHT): Free Stock Analysis Report

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