Rackspace Hosting, Inc. (NYSE: RAX)

Rackspace Hosting, Inc. provides cloud computing services, managing Web-based IT systems for small and medium-sized businesses, and large enterprises worldwide. Its service offering combines hosting on dedicated hardware and on multi-tenant pools of virtualized hardware in a way that suits each customer’s requirements. The company offers dedicated cloud services comprising customer management portal and other management tools for managing the data center, network, hardware devices, and operating system software; and public cloud that provides pooled computing resources delivered on-demand over the Internet to manage a pool of computing resources across a larger base of customers and deliver computing resources to businesses when they need them. It offers cloud servers for computing, and cloud files for storage, as well as cloud applications, such as email, collaboration, and file back-ups; and hybrid hosting that provides hosted computing on dedicated hardware and on pools of shared resources.

To review Rackspace’s stock, please take a look at the 1-year chart of RAX (Rackspace Hosting, Inc.) below with my added notations:

 

RAX has recovered nicely from its June-July bottom. However, over the last (3) months the stock has been stalling at a clear $70 resistance level (navy). A break though this level would be a 52-week high and should mean higher prices overall for the stock. Another failed attempt to break through the $70 level could mean a fall back down to the common level of $60 (blue).