Is Rowan Companies Closing in to Resistance?
Published on Thursday, 21 June 2012 08:04 Written by TradersHuddle Wire
New York, June 21st (TradersHuddle.com) - Shares of Rowan Companies, Inc. (NYSE:RDC) are trading very close to calculated resistance at $32.19. The stock ended the trading session at just $31.65, which is near levels that make it difficult to buy or start a position.
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.
Rowan's stock range is defined by its calculated support defined at $30.25 and by the resistance level at $32.19; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.
Traders don't have a clear entry point for Rowan Companies. However, as the stock pulls back towards $30.25 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $32.19 then traders will get an opportunity to enter the stock as it moves to a higher range.
- 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
- Trading Idea: Is Rowan Companies close to Support?
- Is Rowan Companies Closing in to Support?
- Rowan Provides Fleet Contract Status Update
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:15,335.28 Trade time:4:36PM EDT Value change:▼19.12 (-0.12%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,666.29 Trade time:4:36PM EDT Value change:▼1.18 (-0.07%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,496.43 Trade time:5:15PM EDT Value change:▼2.54 (-0.07%)
In The Wires
Acquisition of Websense, Inc. by Vista Equity Partners May Not Be in the Best Interests of Websense Shareholders
iGATE Terminates the Employment of President and CEO Phaneesh Murthy; Board Appoints Gerhard Watzinger Interim President and CEO
Volcano to Highlight its Physiology Expansion Efforts at EuroPCR 2013
Masimo CEO Joe Kiani Receives Argyros Medal for Visionary Leadership & Commitment to Patient Safety
Omega Protein christens two new vessels to add to its menhaden fishing fleet
H.B. Fuller Company Agrees to Acquire Plexbond Quimica, S/A
KPS Capital Partners, LP Announces Formation Of Expera Specialty Solutions; Creates The Leading Specialty Paper Company In North America; Agrees To Acquire The Specialty Paper Business Of Wausau Paper Corp. And The Thilmany Division Of Packaging Dynamics
Davies Company Real Estate: Social Media Makes Buying a Home Easier