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Stock Investors Sell Off Shares of Rackspace Hosting, Down 2.8%

Published on Wed, 07/31/2013 - 11:17
By Mallory Stone

Down 2.8% to $45.15, Rackspace Hosting (NYSE:RAX), is one of today's notable movers. The Dow Jones Industrial Average is now trading 0.6% higher to 15,618 and the S&P is trading 0.6% higher to 1,696.

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

Over the past year, Rackspace Hosting has traded in a range of $33.91 to $81.36 and is now at $45.15, 33% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.0%.

Rackspace Hosting (NYSE:RAX) has potential upside of 5.8% based on a current price of $45.15 and analysts' consensus price target of $47.79. The stock should hit resistance at its 200-day moving average (MA) of $55.80, as well as support at its 50-day MA of $39.17.

By Mallory Stone