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Rackspace Falls Off The RAX



July 10, 2013 – Comments (0) | RELATED TICKERS: RAX

This morning, leading website hosting stock Rackspace Hosting Inc (NYSE:RAX) is declining sharply lower on the trading session. RAX stock is trading lower by $2.91 to $38.88 a share. This stock is giving up the daily chart 50-day moving average which is always a sign of weakness. Short term day traders can watch for intra-day support around the $37.14, and $36.02 levels. These are areas where an intra-day bounce could occur. 

Nicholas Santiago

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