Equinix (EQIX)
By Thu, Sep 23, 2021
The housing market is booming right now, so it’s no surprise that today’s Chart of the Week comes from the REIT sector.
REITs are showing a ton of relative strength right now — especially from the tech side.
Data centers and infrastructure stocks are strong right now, including today’s Chart of the Week, Equinix (EQIX).
Equinix is a digital infrastructure REIT that’s essentially a tech company hiding as an REIT.
But it’s in the right space and it’s got an absolutely beautiful base!
We’re long EQIX above 840 with a price target of 1000.
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
