Bullish DailyPlay for Wednesday Sept 20th, 2017 – Red Hat (RHT)
The bullish DailyPlay we chose for Wednesday Sept 20th is Red Hat (RHT). RHT is part of the Technology Sector (XLK). Over the last month, XLK has experienced a 3.47% move higher and its 1m and 6m trend has turned bullish on 8/22 yesterday while bouncing higher off its $58.50 support level.
Red Hat’s 1m and 6m trends turned bullish on 8/14 and recently bounced higher off its $106 support level. With a technical score of 9 (out of 10), RHT is a strong bullish stock that looks to continue higher.
As a stop loss, if RHT was to trade below $106 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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