PPR - RAX August 22, 2012

Published : August 22 2012 at 14:52 ET

RAX looks as if it will trade enough volume for a pocket pivot. It needs to trade 1,660,900 shares. RAX offers hosting services to businesses, websites, and web-based IT systems.

RAX recently had a gap up after a strong earnings report. This gap up was not buyable in our view due to its prior gap down and straight up off the bottom chart pattern. That said, recent technical action after its prior gap up has redeemed RAX.

Earnings and sales have been strong over several quarters. Institutional sponsorship has grown over the last 4 quarters. Overall rating 99.

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