Equity Residential Is Crumbling Down

The REIT has been in a downtrend since a death cross was executed in October

   

Equity Residential (EQR) — This real estate investment trust (REIT) owns and operates a national portfolio of apartment properties. It was on my Stocks to Sell in July list, after closing below its 200-day moving average.

The stock has been in a downtrend since a death cross was executed in October. It recovered only to fail to penetrate the bearish resistance at $59 and reissue another death cross.

This week, EQR closed below a quadruple support line at $53 and appears destined to fall to the mid- to lower $40s. Selling is increasing and MACD is in bear territory.

The dividend has so far been stable, but earnings for 2013 are estimated at $2.85, down from $3.11. Sell EQR at the market.

EQR Chart
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Chart Key


Article printed from InvestorPlace Media, http://investorplace.com/2013/08/trade-of-the-day-equity-residential-eqr/.

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