Equinix Inc (US: EQUIX) upside is set to confirm after some consolidation at the all-time high resistance:
- The formation of the ascending triangle after 3-successive rebound from the resistance turned support zone at US$783.09-US$797.28.
- The resistance zone at US$824.98-US$839.77 has been weakened recently due to multiple testing.
- Monday’s bullish rebound above 63 and 22-MA is indicative of a strong bullish trend.
- Golden cross is still valid as prices remain well above all three major moving averages.
- Target prices are at 161.8% and 200% extension level of the previous cup and handle.
*Expected timeline of the trade is 15 weeks from the date of report issuance.
CHART LEGEND
Moving Averages
Red dotted line = 200 periods MA
Blue dotted line = 63 Periods MA
Green dotted line = 22 periods MA
