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Next Support Level for Rowan (RDC) is $14.73

By Nick Russo

Shares of Rowan (NYSE:RDC) have bearishly opened below the pivot of $15.11 today and have reached the first support level of $14.87. Investors may be interested in a cross of the next downside pivot targets of $14.73 and $14.35.

Potential upside of 0.0% exists for Rowan, based on a current level of $0.00 and analysts' average consensus price target of $18.12. The stock should find initial resistance at its 50-day moving average (MA) of $16.27 and further resistance at its 200-day MA of $16.70.

Over the past year, Rowanhas traded in a range of $0.00 to $24.31 and are now at $0.00. The 200-day and 50-day moving averages have moved 0.03% higher and 3.11% higher over the past week, respectively.

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: pivot alerts rowan

Ticker(s): RDC