TMCnet News
Shares of Rackspace Hosting Down on Above Average Volume, Moving Against Trend (RAX)Feb 13, 2013 (SmarTrend(R) News Watch via COMTEX) -- Rackspace Hosting's stock is down 16.8% to $62.40 on heavy trading volume. Approximately 6.6 million shares have changed hands today vs. average 30-day volume of 1.1 million shares. Unusually high volume can signify a potential turning point or validate a breakout. SmarTrend recommended that subscribers consider buying shares of Rackspace Hosting on November 28th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $67.03. Since that recommendation, shares of Rackspace Hosting have risen 11.9%. We continue to monitor RAX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Over the past year, Rackspace Hosting has traded in a range of $40.57 to $81.36 and is now at $62.85, 55% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.5%. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |