Equinix (EQIX) just broke above the 200-day moving average

Equinix (EQIX) has reached an important support level and could be a good choice for investors from a technical point of view. Recently, EQIX broke through the 200-day moving average, suggesting a long-term bullish trend.

The 200-day simple moving average helps traders and analysts determine overall long-term market trends for stocks, commodities, indices, and other financial instruments. The indicator moves up or down with the longer term price movements, serving as a support or resistance level.

Shares of EQIX have risen over the past four weeks, up 21%. Additionally, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that EQIX may be poised for a continued rise.

Looking at revisions to EQIX earnings estimates, investors will be even more convinced of the uptrend. There were 7 increases versus no decrease for the current fiscal year, and the consensus estimate also increased.

Investors may want to watch EQIX for more gains in the near future given the company’s key technical level and positive earnings estimate revisions.

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Equinix, Inc. (EQIX): Free Stock Analysis Report

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