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RED HAT INC.
RED HAT INC.
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Ticker: RHT
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RED HAT INC. - Chikou & Candle break this week an important #Ichimoku level - 12/23/2016

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This week the quarterly publication has disappointed and it is manifested by a large red candle that break below the cloud. If this movement is not stopped by the cloud's hollow level at 69.56 I expect a bearish rally to target 67.01 and perhaps 62.15.

Otherwise as long as we are between the cloud's hollow and the cloud's peak (69.56-78.18), the trend could stays neutral.

An other alternative is a pullback on the level Tenkan/Kijun which could be a good entry point to sell short on a daily trend reversal signal.

Trading signal

  • Signal : Sell
  • |
  • Suggested entry price : 75
  • |
  • Stop loss : 79
  • |
  • Take profit : 67
  • Timeframe : Weekly
RED HAT INC. - Weekly
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