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Bullish Moving Average Cross by Rowan (RDC)

By David Diaz

Today, shares of Rowan (NYSE:RDC) have advanced above their 10-day MA of $15.31 on a volume of 564K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Rowan have traded between a low of $10.67 and a high of $24.31 and are now at $15.44, which is 45% above that low price. The 200-day and 50-day moving averages have moved 0.03% higher and 3.11% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Rowan on January 31st, 2017 by issuing a Downtrend alert when the shares were trading at $17.63. Since that call, shares of Rowan have fallen 14.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses rowan

Ticker(s): RDC