Even though big software companies like Oracle, SAP, Salesforce, Microsoft and even IBM have expanded into cloud computing, Equinix is the “big dog” in the cloud and data storage sector. It may not be a household name, but shareholders are certainly happy with them. They hit a new all-time high on Monday, and since 2015 the stock is up well over 100%.
Looking at the chart, what’s not to like? The stock rebounded in early March from a nasty day of selling and has been making a series of higher-highs and higher-lows. Relative strength is solid with a nice, steep slope. Volume has been good post-rebound, and momentum indicators are on a buy signal. I would not be surprised to see a slight pullback, which could make for a good entry point.
Equinix (Nasdaq:EQIX) Video Chart Analysis
Take a deeper dive into the chart action on tech stock Advanced Micro Devices Nasdaq: Equinix and learn how to read the technicals. Get Bob Lang’s full analysis as he marks up our chart of the week.
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Equinix, Inc. is a publicly owned real estate investment trust. It provides data center services to protect and connect the information assets for the enterprises, financial services companies, and content and network providers primarily in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company provides colocation services and related offerings, including operations space, storage space, cabinets, and power for customers colocation needs; interconnection services comprising physical cross connect/direct interconnections, Equinix Internet Exchange, Equinix Cloud Exchange, Equinix Metro Connect, and Internet connectivity services; and managed IT infrastructure services, including installation of customer equipment and cabling, as well as equipment rebooting and power cycling, card swapping, and emergency equipment replacement services. Equinix, Inc. was founded in 1998 and is headquartered in Redwood City, California.