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Rowan Companie-A: New 52-Week Low Set Today (RDC)

By James Quinn

Rowan Companie-A (NYSE:RDC) traded today at a new 52-week low of $9.71. So far today approximately 398,000 shares have been exchanged, as compared to an average 30-day volume of 4 million shares.

Rowan Companies plc provides international and domestic contract drilling services. The Company also owns and operates a manufacturing division that produces equipment for the drilling, mining, and timber industries.

Over the past year, Rowan Companie-Ahas traded in a range of $9.71 to $21.68 and are now at $10.02. The 200-day and 50-day moving averages have moved 0.03% higher and 3.11% higher over the past week, respectively.

Potential upside of 50.4% exists for Rowan Companie-A, based on a current level of $10.02 and analysts' average consensus price target of $15.07. Rowan Companie-A shares should first meet resistance at the 50-day moving average (MA) of $16.27 and find additional resistance at the 200-day MA of $16.70.

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

Keywords: 52 week high/lows rowan companie-a

Ticker(s): RDC