Rackspace Hosting (RAX): Golden Cross
Rackspace Hosting (RAX) flashed the golden cross (50-day moving average rises above 200-day) signal.
The green price bars showing outperformance vs. SPX since early October.
How excited will the bulls get if RAX breaks its April highs?
Cloud buzz will comeback?
The golden cross is a good filter to help narrow down the field. From there, traders should apply the Seven Steps to Better Stock Trading. For example, it is important to determine if there is a trend. One way to do it is to apply a swing indicator and look for a pattern of higher highs and higher lows. Better yet, just use my Total Indicator for eSignal. It’s free!