Getting My Redhat Back On: Long at $57.27

I’m a bit bummed out that I didn’t get in on the Ball Corp (BLL) breakout today. But I am quite happy about the chance that was presented to me with Redhat (RHT). I actually traded RHT earlier this month in the $55’s and it is no doubt higher since I got stopped out at a shade below breakeven. But this time actually looks better on the chart as it is breaking out of a double-bottom formation short-term and out of consolidation from the past few weeks.

Stop, Target and Entry on the chart.

Here’s the trade setup in RHT.

Redhat RHT x2

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