by Sam Collins | August 15, 2013 1:06 am
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.
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