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Shares of Rackspace Hosting Under Pressure, Down 1.5%

Published on Thu, 01/10/2013 - 13:22
By Mallory Stone

One of today's notable stocks in decline is Rackspace Hosting (NYSE:RAX), down 1.5% to $76.58. The S&P is currently trading 0.3% higher to 1,466 and the Dow Jones Industrial Average is trading 0.2% higher to 13,422.

In the past 52 weeks, Rackspace Hosting share prices have been bracketed by a low of $40.57 and a high of $78.36 and are now at $76.58, 89% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 1.1%.

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

Based on a current price of $76.58, Rackspace Hosting is currently 6.9% above its average consensus analyst price target of $71.33. The stock should find initial support at its 50-day moving average (MA) of $68.12 and further support at its 200-day MA of $57.89.

By Mallory Stone