Rackspace Falls Off The 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.