RED HAT INC
(RHAT-Nasdaq):
Technical Viewpoint: From a low
of $8.09 on Sep 10, 2003 prices
rallied, reaching a
high of $10.95
on Sep 24, 2003. A
decline saw prices pull back, reaching a
low of
$9.29 on Sep 26, 2003.
Another rally saw prices penetrate
resistance, closing 10/13/03
at $12.97. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Sep 26, 2003 when the Histogram crossed the "0" line to the upside.
Support: Remains at $10.63. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Oct 13, 2003. A P&F upside
reversal takes place at $12.25. Summary: Technical indicators have turned bullish. BUY! RED HAT INC
(RHAT-Nasdaq) @ $13.25 Stop: Use a protective stop of $11.50.
RED HAT INC is currently trading @ $12.97 plus $2.19 on Oct 13, 2003. Price Objective:
$19.00. Risk/Reward: $1.50 VS. $5.75. Today's Risk Reward Ratio: 4:1
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