Equinix had its Relative Strength (RS) Rating upgraded from 68 to 72 Wednesday — a welcome improvement, but still below the 80 or higher score you look for.
IBD's unique RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
History shows that the best-performing stocks often have an RS Rating of at least 80 in the early stages of their moves. See if Equinix can continue to show renewed price strength and clear that threshold.
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Equinix has climbed more than 5% past an 843.27 entry in a first-stage cup with handle, meaning it's now out of a proper buy zone. Look for the stock to create a new buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
The company posted 11% earnings growth last quarter, while sales growth came in at 7%.
The company earns the No. 6 rank among its peers in the Finance-Property REITs industry group. CareTrust REIT, Essential Prop Realty Tr and Tanger are among the top 5 highly rated stocks within the group.
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