The Greedy Trader Weekly Analysis
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Yearly Pattern:Falling Channel
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Channeling Stock - rising channel and falling channel.

Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.

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- 3/15/2024 -
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Equinix (EQIX) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtStochastic has declined below the signal lineBroken trend resistance lineBroken trend resistance line
Daily :Stochastic has declined below the signal lineDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was the negative week for the Equinix (EQIX). During the week, the EQIX dropped -59.71 points, or -6.56%, and closed at 850.39 on Friday, March 15, 2024. Weekly volume was 64% above average.

Long-term trend: [See EQIX long-term trend chart]
A long-term downtrend had started on September 3, 2021 at 885.10 and reached 494.89 on October 13, 2022. EQIX lost 390.21 points, or 44.09%, in 57 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (746.30) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See EQIX medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 677.80 and reached 914.93 on March 4, 2024. EQIX gained -237.13 points, or -34.99%, in 18 weeks. The chart has formed a Rectangle chart pattern. The uptrend resistance line (789.39) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See EQIX weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See EQIX short-term trend chart]
A short-term uptrend had started on January 5, 2024 at 786.57 and reached 914.93 on March 4, 2024. EQIX gained -128.36 points, or -16.32%, in 59 days. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 794.19 and resistance is at 939.18. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See EQIX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.60
Williams' Percentage Range (W%R) 78.50
Lane's Stochastic (%D-Slow) 22.70
Greed/Fear Indicator (GFI) 28.25
Moving Average Converg./Diverg. (MACD) 14.40
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.35
Williams' Percentage Range (W%R) 22.70
Lane's Stochastic (%D-Slow) 83.38
Overbought
Greed/Fear Indicator (GFI) 71.58
Moving Average Converg./Diverg. (MACD) 24.97
Trading Signals
Description Value Chart
Weekly Trendline Resistance 939.18
Upper Bollinger Band 914.34
Parabolic System 904.53
Weekly Stochastic Crossing 895.20
20 Day Moving Average 883.57
Daily Stochastic Crossing 858.31
Price 850.39
50 Day Moving Average 846.60
Lower Bollinger Band 838.59
Monthly Trendline Resistance 825.97
Yearly Trendline Resistance 800.25
Weekly Trendline Support 794.19
Monthly Trendline Support 789.39
Yearly Trendline Support 746.30
Sector and Industry
Description Name Rank
Sector Real Estate 3
Industry Specialized REITs 33
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 914.93
High Date 03/04/2024
Low 848.16
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 939.18
Support 794.19
Low 786.57
Low Date 01/05/2024
High 914.93
High Date 03/04/2024
Description Value
Direction Up
Chart Pattern Rectangle
Status Broken Resistance
Resistance 825.97
Support 789.39
Low 677.80
Low Date 10/25/2023
High 914.93
High Date 03/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 494.89
Low Date 10/13/2022
High 914.93
High Date 03/04/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 800.25
Support 746.30
High 885.10
High Date 09/03/2021
Low 494.89
Low Date 10/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.