JimVanMeerten (46.91)

Rowan is on the move

March 01, 2011 – Comments (0) | RELATED TICKERS: RDC

I was using Barchart to screen for S&P 500 stocks having the highest 14 day Relative Strength Index and noticed the price momentum ofRowan (RDC)

Rowan Companies, Inc. is a major provider of international and domestic offshore contract drilling services. The Company also owns and operates a manufacturing division that produces equipment for the drilling, mining and timber industries.

Technical Factors:

100% Barchart technical buy signal (All 13 technical indicators signal buy)

Trend Spotter (tm) buy signal

9 new highs and up 21.88% in the last month

Above 20, 50 and 100 day moving averages

Relative Strength Index is 80.41% and rising

Trades around 42.71 with a 50 day moving average of 36.05

Fundamental Factors:

Wall Street brokerages analysts are high on this company with 21 buy and 11 hold recommendations published for their brokers to push to clients

Revenue expected to increase by 9.80% next year

Earnings estimated to increase by 10.68% annually for the next 5 years

Investor Sentiment:

CAPS members on Motley Fool extremely positive with a vote of 609 to 28 that the stock will  beat the market

All Stars are in agreement by a vote of 263 to 5

Fool notes that the 3 articles written by Wall Street columnists last year were all positive.Buy or put on your watch lists