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Rowan Crosses Above its 10-day MA (RDC)

By Shiri Gupta

Rowan (NYSE:RDC) crossed over its 10-day moving average of $13.50 on a volume of 320K shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Rowan share prices have moved between a 52-week high of $24.31 and a 52-week low of $10.67 and are now trading 28% above that low price at $13.70 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.1% while the 200-day MA has remained constant.

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 25.2%. 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