Is Rowan Companies Waiting for a Break Out?
Published on Thursday, 28 June 2012 08:16 Written by TradersHuddle Wire
New York, June 28th (TradersHuddle.com) - Rowan Companies, Inc. (NYSE:RDC) ended the trading session at $30.37, near its 50 day moving average set at $31.75. Rowan's price action placed the stock below this important level, which makes it difficult to be bought, as the stock will certainly face resistance as it approaches its 50 day moving average.
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 $28.62 and resistance at $32.32. These levels will be closely monitored, as they provide great insight into the latest price dynamics.
If traders want to establish a position in Rowan Companies, given the resistance expected as the stock approaches its 50 day moving average, a trade might materialize as the stock manages to break this important technical level. After the breakout, the 50 day moving average could be used as support going forward. However, until the break materializes, buying the stock is basically a gamble with 50-50 chance.
- 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
- Playing the Setup in 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:15,179.85 Trade time:4:33PM EDT Value change:▲109.67 (0.73%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,639.04 Trade time:4:33PM EDT Value change:▲12.31 (0.76%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,452.13 Trade time:5:15PM EDT Value change:0.00 (0.00%)
In The Wires
Boston Scientific Vercise™ DBS System demonstrates Improvement In Motor Function For Patients With Parkinson's Disease
Neusoft Named Again to PwC's Global 100 Software Leaders
BNK Petroleum Inc. announces Annual General Meeting date and operations update
Cathay Bank Opens A Branch In Las Vegas
Report: Twitter Marketing Chatroom with Universal Features Introduced by Chatwing Company
Biglari Holdings, Inc. Is Being Investigated on Behalf of Shareholders
Champaign IL Home Alarm System Quotes Now Available from SafeandSecureAlarm.com
Direct Selling Powerhouse ACN’s Upcoming Event to Provide Valuable Training to an International Audience While Leaving a Lasting Impression on the City of Los Angeles, CA