Is Rowan Companies Expecting Resistance?
Published on Thursday, 26 April 2012 08:44 Written by TradersHuddle Wire
New York, April 26th (TradersHuddle.com) - Rowan Companies, Inc. (NYSE:RDC) closed the the trading session at $34.00, near its 50 day and 200 day moving averages currently set at $34.81 and $34.25 respectively. Rowan's price action places the stock below these important levels, which makes it difficult to be bought, as it will certainly face resistance as it approaches these important moving averages.
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.
The latest price action range, defined by a peaks and troughs algorithm, placed calculated support at $32.49 and resistance at $34.51. Traders should monitor these levels, as they provide insight into the latest price dynamics in Rowan Companies.
If traders want to establish a position on Rowan Companies, given the heavy resistance expected near the 50 and 200 day moving averages, a trade might be evident as the stock manages to break these moving averages. However, until the break materializes buying the stock is nothing different than flipping a coin.
- Playing the Setup in Rowan Companies
- Rowan Provides Fleet Contract Status Update
- Trading Idea: What to Expect as Rowan Companies Breaks Resistance
- Rowan to Present at the UBS Global Oil and Gas Conference
- Reference Points for Rowan Companies
- Is Rowan Companies Closing in to Resistance?
- Rowan Companies Is Near to the 50 and 200 Day Moving Averages
- Above Resistance: Rowan Companies
- Rowan Reports First Quarter 2013 Results
- Rowan Companies Is Near a Key Resistance Area
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:15,298.52 Trade time:3:40PM EDT Value change:▼8.65 (-0.06%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,650.62 Trade time:3:40PM EDT Value change:▼4.73 (-0.29%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,458.32 Trade time:3:40PM EDT Value change:▼4.98 (-0.14%)
In The Wires
Georgia Power recognized for commitment to diversity by Hispanic Network Magazine
Morguard North American Residential REIT Completes Acquisition of six Multi-Unit Residential Assets in the U.S. for US$232 Million
Hadasit Bio-Holdings Ltd. Portfolio Company - Cell Cure Neurosciences Ltd. Received Additional Government Support
Hubwoo Announces Partnership Program for The Business Network for Microsoft Dynamics®
MGC Diagnostics Corporation to Report Second Quarter Fiscal 2013 Financial Results on Thursday, May 30, 2013
Coors Light Featuring Ball's Alumi-Tek® Bottle Wins Packaging Association, Canadian Packaging Awards
Flexjet Reports 83 Percent Growth in New Business
Southwest Airlines Vice President Of Diversity And Inclusion Wins The Rosa Parks Diversity Leadership Award