Red Hat trades lower after results, levels to watch The shares are bearishly filling the bullish gap up from late December of last year, which is a bearish indicator for future price action. On a 6-month daily chart the price action since late December resembles an island top although it isn't one precisely on a technical basis since there was no gap in price below $54.05, the low of the range. It may behave like one however. Next support based on the current price of $53.17 is at $52.10 and then at $51.51. Resistance is at $54.05.