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Equinix Falls 2.80% on Heavy Volume: Watch For Potential Rebound
Jan 29, 2013 (SmarTrend(R) News Watch via COMTEX) --
Equinix (NASDAQ:EQIX) traded in a range yesterday that spanned from a low of $215.46 to a high of $219.62. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $219.01 on volume of 886,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean revision.
SmarTrend recommended that subscribers consider buying shares of Equinix on December 7th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $187.73. Since that recommendation, shares of Equinix have risen 18.6%. We continue to monitor EQIX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, Equinix share prices have been bracketed by a low of $113.53 and a high of $226.34 and are now at $216.45, 91% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has risen 0.6%.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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