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Equinix (EQIX) Is Today's Momo Momentum Stock

Trade-Ideas LLC identified Equinix ( EQIX) as a momo momentum candidate. In addition to specific proprietary factors, Trade-Ideas identified Equinix as such a stock due to the following factors:

  • EQIX has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $221.4 million.
  • EQIX has a PE ratio of 258.
  • EQIX is currently in the upper 30% of its 1-year range.
  • EQIX is in the upper 25% of its 20-day range.
  • EQIX is in the upper 35% of its 5-day range.
  • EQIX is currently trading above yesterday's high.
  • EQIX has experienced a gap between today's open and yesterday's close of 0.6%.

'Momo Momentum' stocks are valuable stocks to watch for a variety of reasons including historical back testing and price action. Market technicians refer to such stocks as being in a mark-up phase before a possible distribution period and price decline. Technical analysts and traders frequently find that the factors referenced above tend to create a temporary burst of strong wind in a stock's sail. Nevertheless, all successful traders must excel at maximizing gains while keeping losses to an absolute minimum. For that reason, the holding period on momo momentum stocks must always be a primary consideration, and this part of the puzzle is ultimately at the discretion of each individual's risk tolerance and portfolio risk management...