• Return to Headlines

Rackspace Hosting Falling Today on Above-Average Volume (RAX)

By David Diaz

Shares of Rackspace Hosting are trading today in above average volume, with the share price rising 4.4% to $31.52. Approximately 8.1 million shares have changed hands today vs. average 30-day volume of 2.3 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

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 26.4%. We continue to monitor RAX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Rackspace Hosting share prices have been bracketed by a low of $15.05 and a high of $54.57 and are now at $31.52, 109% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 1.1%.

Keywords: unusual volume Rackspace Hosting

Ticker(s): RAX