50-Day and 100-Day EMAs Cross

Yesterday, we looked at a Daily Price Chart and an OBV line chart for Palo Alto Networks, Inc. noting that the stock’s OBV line was sloping up.

Today’s Chart of the Day is a Daily Price Chart with moving averages for Equinix, Inc. (NYSE: EQIX).

Equinix, Inc. connects the world’s leading businesses to their customers, employees and partners inside the most-interconnected data centers. On this global platform for digital business, companies come together across more than 50 markets on five continents to reach everywhere, interconnect everyone and integrate everything they need to create their digital futures.

Now, below is a Daily Price Chart with the 50-Day EMA and 100-Day EMA for Equinix, Inc.

Back on February 25^th, the EQIX 50-Day EMA (blue line) crossed above the 100-Day EMA (red line) indicating EQIX was showing a ‘Buy’ signal (circled).

When the 50-Day EMA crosses above the 100-Day EMA, the stock’s buying pressure has begun to outweigh the selling pressure. This is a ‘Buy’ signal.

When the 50-Day EMA crosses below the 100-Day EMA, the stock’s selling pressure has begun to outweigh the buying pressure. This is a ‘Sell’ signal.

If you had purchased EQIX shares when the 50-Day EMA crossed above the 100-Day EMA on February 25^th, when the stock was around $631.98, you’d be up 6.9% by now.

Not a bad profit for a three month hold of a major REIT.

Now, as you can see, the 50-Day EMA is still above the 100-Day EMA. That means the bullish trend is still in play! 

As long as the 50-Day EMA remains above the 100-Day EMA, the stock is more likely to keep trading at new highs in the coming days and weeks.

We’ll be keeping our eye on this stock as it continues to trend upward.

Best Regards,

Chuck Hughes
Editor, Chart Of The Day

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