Equinix : The stock is trading at its highest level.

We have seen a hammer at top which is one of the reversal candlestick patterns. It is early to predict on one confirmation the stock is going to correct or not.

It's not like that the hammer alone is not a good candlestick pattern, it has a failure rate of only 23% which is OK.

But as we say it's better to have 2-3 confirmations so let's check another 2.

1. RSI : The Rsi is showing complete divergence where the stock is rising and rsi is falling.

2. MACD : The Macd has crossed from 30 and is flatten near 0, if the macd crosses below 0 and crossover on negative sight is seen again there would  be strong probability the stock will follow the same move.

Advice : Sell with a Sl of 847 on closing basis

Selling Opportunity.

Jul 17 2021

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