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Bearish Moving Average Cross by Rowan (RDC)

By David Diaz

Rowan (NYSE:RDC) shares have crossed bearishly below their 10-day moving average of $16.77 on a volume of 389K 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, Rowan has traded in a range of $10.67 to $24.31 and is now at $16.30, 53% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 3.1%.

SmarTrend recommended that subscribers consider buying shares of Rowan on February 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.45. Since that recommendation, shares of Rowan have risen 26.3%. We continue to monitor RDC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses rowan

Ticker(s): RDC