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Recent 52-Week High Exceeded in Shares of Equinix (EQIX)

By Amy Schwartz

Shares of Equinix (NASDAQ:EQIX) traded at a new 52-week high today of $357.08. So far today approximately 71,000 shares have been exchanged, as compared to an average 30-day volume of 534,000 shares.

Equinix (NASDAQ:EQIX) is currently priced 8.8% above its average consensus analyst price target of $324.08. The stock should find initial support at its 50-day moving average (MA) of $320.36 and further support at its 200-day MA of $296.64.

Equinix, Inc. provides core Internet exchange services to networks, Internet infrastructure companies, enterprises, and content providers. The Company operates Internet Business Exchange centers in several countries, where customers can interconnect with the providers that serve Internet networks and users for their peering, transit, and traffic exchange requirements.

Over the past year, Equinix has traded in a range of $225.02 to $357.08 and is now at $355.17, 58% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.9%.

SmarTrend recommended that subscribers consider buying shares of Equinix on February 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $301.50. Since that recommendation, shares of Equinix have risen 17.7%. We continue to monitor EQIX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows equinix

Ticker(s): EQIX