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Possible Trend Reversal, Rackspace Hosting Down on Heavy Volume (RAX)

By James Quinn

The price of Rackspace Hosting shares has slipped to $31.46 (a 0.1% change) on heavy trading volume. Today's volume of 4.0 million shares tops the average 30-day volume of 2.3 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

SmarTrend recommended that subscribers consider buying shares of Rackspace Hosting on July 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.88. Since that recommendation, shares of Rackspace Hosting have risen 31.9%. We continue to monitor RAX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Rackspace Hosting share prices have moved between a 52-week high of $54.57 and a 52-week low of $15.05 and are now trading 109% above that low price at $31.50 per share. The 200-day and 50-day moving averages have moved 1.1% lower and 0.98% higher over the past week, respectively.

Keywords: unusual volume Rackspace Hosting

Ticker(s): RAX