It seems like RAX is forming an ascending triangle on the chart. Yesterday’s market did not cause it to drop a lot. Most importantly, on the Ichimoku chart, the closing price did not cut the Tenkan sen (red line) which will suggest that the trend is intact.
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… Continue reading Rackspace Hosting (RAX) : 52 Week Resistance
RAX had a bullish cross from the Tenkan sen and Kijun sen back on Septebmer 18 and this is follow by a gap up yesterday breaking through its year high.