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Equity Residential Crosses Below its 10-day MA (EQR)

By James Quinn

Today, shares of Equity Residential (NYSE:EQR) have fallen below their 10-day MA of $68.03 on a volume of 770K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Equity Residential share prices have been bracketed by a low of $61.90 and a high of $82.39 and are now at $67.25, 9% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Equity Residential on February 3rd, 2016 by issuing a Downtrend alert when the shares were trading at $74.66. Since that call, shares of Equity Residential have fallen 7.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses equity residential

Ticker(s): EQR