Rackspace Stock Just Surged Into Overbought Territory. The Case for Still Buying RXT Now.

Rackspace Technology (RXT) shares more than tripled on Wednesday after the Nasdaq-listed firm announced a new strategic partnership with Palantir Technologies (PLTR). This massive surge of retail interest pushed RXT’s relative strength index (14-day) into the late 70s, indicating extremely overbought conditions that often precede a sharp correction. Despite its meteoric run, however, Rackspace stock remains down more than 50% versus its 52-week high. More News from Barchart www.barchart.com Does Palan ...