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Day January 12, 2010

Rackspace Hosting (RAX) : 52 Week Resistance

RAX has just came off from its 52 week resistance at around $23.00

From the chart we can see that the Tenkan sen and Kijun sen are both flattening; a possible pause in its momentum.

Kumo provides support at around $21.00

At this moment, the uptrend is still intact as we do not have any indications of a bearish cross, Chikou Span or price going below the kumo.