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Bearish Moving Average Cross by Rackspace Hosting (RAX)

By Shiri Gupta

Rackspace Hosting (NYSE:RAX) crossed under its 10-day moving average of $23.34 on a volume of 242K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Rackspace Hosting has traded in a range of $15.05 to $54.57 and is now at $22.95, 52% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 1.1%.

SmarTrend is monitoring the recent change of momentum in Rackspace Hosting. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Rackspace Hosting in search of a potential trend change.

Keywords: moving crosses Rackspace Hosting

Ticker(s): RAX