Once Again Putting My Redhat Back On
So far I'm 1 and 1 (.500) trading Redhat (RHT) and now I find myself throwing my red hat back into the ring for another go-around by going long at $57.56. This stock continues to provide excellent setup after excellent setup.
Now you have that same double top from before but this time with a picture perfect bull-flag pattern that retraces to significant support from the double bottom breakout as well as a 2-month uptrend in place that was successfully tested and bounced on today.
One more thing, the reward to risk ratio is 4-to-1. That's pretty darn good, my friend.
Here's the RHT setup.