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Downtrend Call Working As Rignet Inc Stock Falls 15.8% (RNET)

By James Quinn

SmarTrend identified a Downtrend for Rignet Inc (NASDAQ:RNET) on July 18th, 2019 at $9.08. In approximately 2 months, Rignet Inc has returned 15.81% as of today's recent price of $7.64.

Over the past year, Rignet Inc has traded in a range of $6.85 to $24.05 and is now at $7.64, 12% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.9% while the 50-day MA has declined 2.4%.

RigNet Inc. is a data network infrastructure provider serving the remote communications needs of the oil and gas industry. The Company, through a controlled and managed Internet Protocol/Multiprotocol Label Switching global network, delivers voice, data, video, and other services such as real-time management and telemedicine services, under a multi-tenant model.

SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of Rignet Inc.

Log in and add Rignet Inc (RNET) to your watchlist today so you can receive a real-time alert when the shares are about to change trend.

Keywords: spotlights rignet inc

Ticker(s): RNET