Entry points for Rowan Companies
Published on Thursday, 15 March 2012 09:12 Written by TradersHuddle Wire
New York, March 15th (TradersHuddle.com) - Shares of Rowan Companies, Inc. (NYSE:RDC) closed the session at $35.93 near its 50 day and 200 day moving averages currently set at $35.3148 and $34.8418 respectively. Rowan's price action is above these important levels, which could translate into a trading opportunity.
Rowan Companies, Inc. (NYSE:RDC) provides contract drilling services. The Company also owns and operates a manufacturing division that produces equipment for the drilling, mining and timber industries.
Although, the price action is above these moving averages, it's important to highlight that the 50 day moving average is currently above the 200 day moving average, signaling that the stock is not technically broken from the long side and buying the dip strategy might be the best setup out there.
Looking at peaks and troughs horizontal support and resistance levels, we can see its calculated support at $34.7 and calculated resistance at $36.68. These levels should also be evaluated by traders when planning their trades, as they provide an insight into the latest price action.
If traders want to establish a position on Rowan Companies need to place special attention to the stock price action and establish a position as close to the moving averages as possible. Also, traders need to consider the latest price action, via the stocks current range defined by the peaks and troughs algorithm, not forgetting that if the stock had a wild move outside its range, it would certianly take a few days to establish support and resistance.
- Rowan Companies Is Near to the 50 and 200 Day Moving Averages
- Is Rowan Companies Ready for a Break Out?
- Is Rowan Companies Expecting Resistance?
- Rowan Companies near Support
- Rowan Companies Is in a Well Structured Setup
- Near Key Levels: Rowan Companies
- Rowan Companies Is Close to Important Price Levels
- Rowan Appoints Tore I. Sandvold as New Director
- Critical Alerts For Citigroup, Time Warner Cable, Rowan, Stratasys, and The Medicines Company Released By InvestorsObserver
- Trading Idea: Key levels for Rowan Companies
Related Partner Headlines
- UPDATE: Dahlman Rose Downgrades Rowan Companies to Hold - Benzinga
- Stocks With a One-Two Punch - TheStreet.com
- Rowan Companies PLC (RDC): Today's Featured Energy Winner - TheStreet.com
- UPDATE: Global Hunter Securities Downgrades Rowan Companies to Neutral, Lowers PT - Benzinga
- UPDATE: Goldman Sachs Lowers PT on Rowan Companies from $42 to $39 - Benzinga
- Rowan Companies PLC Stock Upgraded (RDC) - TheStreet.com
- UPDATE: Deutsche Bank Reduces PT to $42, Reiterates Buy on Rowan Companies; One-Off Events Behind - Benzinga
- Rowan, Tenet: S&P Gainers - TheStreet.com
- Rowan: S&P Intraday Gainer - TheStreet.com
- UPDATE: Citi Raises Price Target on Rowan Companies to $37 - Benzinga
Latest Partner Headlines
Dow Today: Verizon Communications (VZ) Higher - TheStreet.com
Separating the Bargains From the Busts - TheStreet.com
Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
Cramer Quick Take: Cisco Wins If Fiscal Cliff Is Resolved - TheStreet.com
Gap Up and Sit - TheStreet.com
Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
Windows 8 PC Sales Disappointing: Report - TheStreet.com
Cramer Quick Take: Buy Home Depot and Lowe's - TheStreet.com
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:15,112.19 Trade time:4:52PM EDT Value change:▼206.04 (-1.35%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,628.93 Trade time:4:52PM EDT Value change:▼22.88 (-1.39%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,443.20 Trade time:5:15PM EDT Value change:▼38.98 (-1.12%)
In The Wires
Ibrutinib Phase 2 Study Results in Patients with Mantle Cell Lymphoma Published in The New England Journal of Medicine
LG, Qualcomm Expand Successful Collaboration With Next G Series Smartphone
Chatwing Coins Now Available for Users Who Want Premium Advantages
New Legislation To Impact FHA Mortgages
Qualcomm Expands Qualcomm Snapdragon 200 Processor Tier
Top Legal Marketing Company Trusp Law To Expand Into New Markets
Ideas to Fill Video Marketing Needs for Local Businesses with Minimal Investment
The Jump Manual Review: Reveals Hiller’s Method of Vertical Jump Training