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After Yesterday's Decline of 2.17%, Rowan Offers Investors Better Value

By James Quinn

Rowan (NYSE:RDC) traded in a range yesterday that spanned from a low of $14.49 to a high of $14.79. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $14.98 on volume of 1.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Rowan share prices have been bracketed by a low of $10.67 and a high of $24.31 and are now at $14.62, 37% above that low price. Over the last five market days, 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 January 31st, 2017 by issuing a Downtrend alert when the shares were trading at $17.63. Since that call, shares of Rowan have fallen 14.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders rowan

Ticker(s): RDC