How Will the Market React to Rackspace Technology, Inc. (RXT) Stock Getting a Bearish Rating

Rackspace Technology, Inc. (RXT) stock is higher by 3.73% over the past week and gets a Bearish rating from InvestorsObserver Sentiment Indicator.

Rackspace Technology, Inc. has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on RXT!

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What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With RXT Stock Today?

Rackspace Technology, Inc. (RXT) stock is trading at $1.39 as of 12:22 PM on Friday, Dec 1, a gain of $0.13, or 9.92% from the previous closing price of $1.26. The stock has traded between $1.27 and $1.41 so far today. Volume today is 1,175,528 compared to average volume of 1,094,229.

More About Rackspace Technology, Inc.

Rackspace Technology Inc is an end-to-end multi cloud technology services company. It designs, builds and operates its customers' cloud environments across all technology platforms, irrespective of technology stack or deployment model. The company's solutions include Application Services; Data; Colocation; Managed Cloud; Managed Hosting; Professional Services; and Security & Compliance. It operates in three reportable segments Multicloud Services; Apps & Cross-Platform; and OpenStack Public Cloud. It generates revenue through the sale of consumption-based contracts for its services offerings and from the sale of professional services related to designing and building custom solutions. Click Here to get the full Stock Report for Rackspace Technology, Inc. stock.