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Rackspace Hosting's Shares Changing Hands at Higher Prices on 1.2x Above-Average Volume (RAX)

Print Share

Dec 12, 2013 (Unusual volume via COMTEX) -- Rackspace Hosting's stock is up 6.2% to $35.73 on heavy trading volume. About 4.3 million shares have been traded today, as compared to the 30-day average volume of 3.5 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

Rackspace Hosting, Inc. delivers websites, web-based IT systems, and provides related services.

In the past 52 weeks, Rackspace Hosting share prices have been bracketed by a low of $32.62 and a high of $81.36 and are now at $35.73, 10% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.6% while the 200-day MA has slid 0.7%.

There is potential upside of 37.6% for shares of Rackspace Hosting based on a current price of $35.73 and an average consensus analyst price target of $49.15. The stock should run into initial resistance at its 50-day moving average (MA) of $44.96 and subsequent resistance at its 200-day MA of $45.33.

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