Rogers Communications (NYSE:RCI) crossed under its 10-day moving average of $38.59 on a volume of 169K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
There is potential upside of 2.0% for shares of Rogers Communications based on a current price of $38.46 and an average consensus analyst price target of $39.25. The stock should discover initial support at its 200-day moving average (MA) of $37.20 and subsequent support at its 50-day MA of $37.17.
In the past 52 weeks, shares of Rogers Communications have traded between a low of $32.27 and a high of $40.69 and are now at $38.46, which is 19% above that low price. The 200-day and 50-day moving averages have moved 0.16% higher and 0.37% higher over the past week, respectively.
Rogers Communications, Inc. is a diversified Canadian communications and media company. The Company's activities include wireless voice and data communications services over its national GSM and HSPA networks, cable television, telephony and high speed Internet access services over its broadband networks, and radio and TV broadcasting, televised shopping, magazines, and sports entertainment.
