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Bullish Moving Average Cross by Rowan (RDC)

By James Quinn

Today, shares of Rowan (NYSE:RDC) have crossed bullishly above their 10-day moving average of $18.16 on a volume of 538K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher 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 $18.45, 73% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.4% while the 200-day MA has remained constant.

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 31.3%. 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