Is Rackspace A Buy Now?
C = Catalyst for a Stock’s Movement
Rackspace Hosting provides cloud computing services and manages web-based IT systems for businesses worldwide. As cloud computing sees increased popularity due to technological exponential expansion, look for Rackspace to be at the frontline. This company is one of the pioneers and leaders in the cloud space and they have clearly done things well. As businesses and consumers move onto the cloud, Rackspace is poised to capitalize from increased service.
T = Technicals on the Stock Chart are Mixed
Since its initial public offering in 2008, Rackspace has seen a monster run. The stock is in a multi-year uptrend extending back so its IPO. Any meaningful pullback has proven to be a buying opportunity. Lately, Rackspace stock has seen a pretty significant pullback but the trend of higher highs and higher lows is still intact.