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SmarTrend Watching for Potential Rebound in Shares of Rowan Companie-A After 2.13% Loss

By David Diaz

Rowan Companie-A (NYSE:RDC) traded in a range yesterday that spanned from a low of $15.29 to a high of $16.16. Yesterday, the shares fell 2.1%, which took the trading range below the 3-day low of $16.21 on volume of 1.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Rowan Companie-A. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Rowan Companie-A in search of a potential trend change.

In the past 52 weeks, shares of Rowan Companie-A have traded between a low of $10.94 and a high of $20.87 and are now at $16.08, which is 47% 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 1.3%.

Keywords: rebounders rowan companie-a

Ticker(s): RDC