Unified Communications Industry News

TMCNet:  Shares of Rackspace Hosting Down on Above Average Volume, Moving Against Trend (RAX)

[February 13, 2013]

Shares of Rackspace Hosting Down on Above Average Volume, Moving Against Trend (RAX)

Feb 13, 2013 (SmarTrend(R) News Watch via COMTEX) -- Rackspace Hosting's stock is down 16.8% to $62.40 on heavy trading volume. Approximately 6.6 million shares have changed hands today vs. average 30-day volume of 1.1 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 November 28th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $67.03. Since that recommendation, shares of Rackspace Hosting have risen 11.9%. We continue to monitor RAX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Over the past year, Rackspace Hosting has traded in a range of $40.57 to $81.36 and is now at $62.85, 55% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.5%.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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