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Rowan Crosses Below its 10-day MA (RDC)

By Shiri Gupta

Today, shares of Rowan (NYSE:RDC) have fallen below their 10-day MA of $14.65 on a volume of 382K 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.

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 $14.40, which is 35% above that low price. 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 its subscribers protect gains by selling shares of Rowan on July 25th, 2016 by issuing a Downtrend alert when the shares were trading at $15.78. Since that call, shares of Rowan have fallen 5.2%. 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