Hopeful Golden Cross Forms On Equity Residential's Chart
Portfolio Pulse from Benzinga Insights
A 'golden cross' has formed on the chart of Equity Residential (NYSE:EQR), which could be a bullish sign for the stock. This occurs when the 50-day moving average crosses above the 200-day moving average, indicating a potential upward trend. However, seasoned investors use this as a signal to start considering long positions based on other factors, such as price levels and company fundamentals. Equity Residential is currently trading around $65.15.
June 28, 2023 | 2:48 pm
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Equity Residential's chart has formed a 'golden cross', a potential bullish sign. The stock is currently trading around $65.15.
The formation of a 'golden cross' on Equity Residential's chart is typically seen as a bullish sign, indicating a potential upward trend. This could attract more investors, driving up the stock price in the short term. However, seasoned investors would also consider other factors such as price levels and company fundamentals before making investment decisions.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100