Rowan: A Large Cap on the Move

| About: Rowan Companies (RDC)

I was using Barchart to screen for S&P 500 (NYSEARCA:SPY) stocks having the highest 14 day Relative Strength Index and noticed the price momentum of Rowan (NYSE:RDC).

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Rowan Companies, Inc. is a major provider of international and domestic offshore contract drilling services. The Company also owns and operates a manufacturing division that produces equipment for the drilling, mining and timber industries.
Technical Factors
  • 100% technical buy signal (All 13 technical indicators signal buy)
  • Trend Spotter (tm) buy signal
  • 9 new highs and up 21.88% in the last month
  • Above 20, 50 and 100 day moving averages
  • Relative Strength Index is 80.41% and rising
  • Trades around 42.71 with a 50 day moving average of 36.05
Fundamental Factors
  • Wall Street brokerage analysts are high on this company with 21 buy and 11 hold recommendations published for their brokers to push to clients
  • Revenue expected to increase by 9.80% next year
  • Earnings estimated to increase by 10.68% annually for the next 5 years
Investor Sentiment
  • CAPS members on Motley Fool extremely positive with a vote of 609 to 28 that the stock will beat the market
  • All Stars are in agreement by a vote of 263 to 5
  • Fool notes that the 3 articles written by Wall Street columnists last year were all positive.
Buy or put on your watch lists.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.