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Rackspace Hosting Looks to Continue to Trade Above its Annual-High Share Price Today

Published on Wed, 01/02/2013 - 15:33
By Peter Chu

Rackspace Hosting (NYSE:RAX) traded at a new 52-week high today of $76.96. Approximately 754,000 shares have changed hands today, as compared to an average 30-day volume of 1.2 million shares.

Rackspace Hosting (NYSE:RAX) defies analysts with a current price ($75.95) 6.1% above its average consensus price target of $71.33. The stock should discover initial support at its 50-day moving average (MA) of $66.76 and subsequent support at its 200-day MA of $57.29.

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

In the past 52 weeks, shares of Rackspace Hosting have traded between a low of $40.57 and a high of $76.96 and are now at $75.95, which is 87% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has risen 0.7%.

By Peter Chu
pchu@fnno.com